Ally Fashion, a well-known Australian women’s fast fashion retailer, has officially entered liquidation, resulting in the closure of 51 stores and the loss of 250 jobs.
The retailer, which was founded in 2001, had grown to operate over 160 stores across the country before facing financial difficulties that led to its collapse.
On Feb. 28, the Federal Court of Australia ordered Ally Fashion into liquidation due to insolvency concerns, following a landlord’s application for rent arrears.The Court appointed Jeff Marsden and Duncan Clubb from BDO Australia as liquidators. As part of an “urgent assessment,” the liquidators determined that shutting down underperforming stores would improve the company’s financial viability.
