Getty
As online shopping tightens its grip on our credit cards and international high street brands become more accessible than ever before, local labels are feeling the pinch. Last November, luxury label Lover entered voluntary administration; today, Metalicus has followed suit.
Owned by General Pants Group, Metalicus was beloved for its jersey basics in an extensive colour palette. The brand confirmed the news to its customers in an email this week, Ragtrader reports.
“Metalicus has long been recognised as an iconic Australian fashion brand and we would like to take this opportunity to thank our customers for their ongoing loyalty and support over the years,” the email reads.
“Whilst this is a difficult period for our staff and customers, tomorrow we will be launching a sale event at all of our flagship stores, Myer concessions and online with significant savings on all pieces.”
Administrators Petr Vrsecky, Stirling Home and Jason Stone from PKF Melbourne have been appointed to the brand.
According to Nine News, Metalicus has 29 stores across Australia.
The brand’s Instagram account announced a closing down sale this morning.
According to Ragtrader, when Metalicus was sold to General Pants Group in 2016 it was recording approximately $25-million in sales.
Related stories
Native ad body.
Native ad body.
Native ad body.
