Fashion

Iconic Australian accessories retailer Oroton goes into administration

Sad news for the much-loved brand.

Stalwart of the Australian fashion industry, handbag retailer Oroton, have gone into administration.

The iconic company known for its luxury leather accessories revealed this morning that an eight-month strategic review failed to find a viable option to secure its future.

The Sydney Morning Herald reports that Oroton’s sales have been in decline in recent years, stating the company has racked up a loss of $14.2 million in 2017.

Australian actress Rose Byrne was Oroton’s most recent celebrity ambassador.

The 59 Oroton stores will continue to operate as usual while administrators Deloitte Restructuring Services pursue a sale or recapitalisation, OrtonGroup said.

“The flexibility of the voluntary administration process enhances the ability to further restructure OrotonGroup in a manner which makes it possible to achieve the best possible outcome in these circumstances,” said administrator Vaughan Strawbridge .

“Our ambition is that a stronger Oroton business will emerge from this process.”

With news of Oroton going under, the brand has launched a massive sale online with up to 70% off items. The sale is so impressive in fact that the website has crashed under the demand of eager shoppers keen to snap up a deal in time for Christmas.

Oroton joins a list of fashion retailers to collapse over the past 18 months, with Lover, Marcs, David Lawrence, Herringbone, Rhodes & Beckett, Payless Shoes and Pumpkin Patch all going into administration.

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