David Lawrence, Marcs in voluntary administration

hotmustardsauce on 02/02/2017 - 09:42

Looks like another Australian retailer bites the dust.

In a statement, the administrators said:

employee wages have been paid up until 30 January 2017.
superannuation has been paid up until 31 December 2016
all existing gift cards and returns will be handled in accordance with the companies' existing policies.

Related Stores

David Lawrence

scotty on 02/02/2017 - 10:13

+4

Looks bad. Here's the non-paywall news articles from SMH.
PVA on 02/02/2017 - 10:19

Is it really the parent company, Webster holdings, the fault here - expanding stores overseas, pushing up costs etc?
CyberMurning on 02/02/2017 - 10:22

Fears about the future of David Lawrence and Marcs comes two months after fellow Australian retailers Payless Shoes and Howards Storage World appointed administrators.
Children's retailer Pumpkin Patch also entered receivership last October.

Howard: no wonder they have like 1000% mark up on everything
- PJC on 02/02/2017 - 12:10
  
  I'm not surprised about Howards Storage World. They were consistently expensive.
michaelTito on 02/02/2017 - 13:54

http://www.smh.com.au/business/retail/david-lawrence-marcs-i…

30 million dollars in debt.
tonyjzx on 03/02/2017 - 01:33

-1

First time I ever heard of this chain. All these stores that depend on buying China stock and then marking them up 500% is a losing game I guess…
- JPerez on 08/02/2017 - 08:36
  
  I've never heard of David Lawrence or seen their stores as it is a womens brand, but MARCS are everywhere if you live in one of the major cities.
  
  Unless you're a hermit and do not venture out at all near a shopping centre anywhere.
  
  Also, MARCS were never popular with the tourists nor were they marketed that way.
  
  Oroton and the like fits that bill.
JPerez on 08/02/2017 - 08:36

Someone messed up somewhere.