An Australian fashion chain is forced to close 51 stores after it was forced into liquidation by the federal court.
Ally Fashion was also forced to tag 250 employees after the company collapsed.
The fashion store, which was founded in 2001, had 160 stores in Australia and an online store before falling.
The federal court of Australia chose Jeff Marsden and Duncan Clubb of BDO Australia as liquiders on 28 February.
The brand was forced into liquidation because of outstanding rent and liquidators assessed the company before it stopped operating 51 stores to improve the financial viability of the company, BDO Australia said in a statement.
The state with the most ally shops to close was Queensland with 19, followed by New South Wales (11), Victoria (8), South Australia (7) and West -Australia (6).
The remaining 109 stores continue to work after BDO has concluded a license agreement with a related entity of director David Dai.
Marsden said that the well -known fashion brand had a dedicated team.
Ally Mode had to dismiss 250 of its staff after the forced closure of 51 of his stores
Ally Mode has closed dozens of its stores after it was forced into liquidation
“The closure of under -performing stores and entering into a license agreement enables the company to continue to work in the short term, while we are urgently investigating options to restructure, re -capitalize or sell the company,” he said.
The company had enjoyed success prior to the sudden collapse.
Ally Fashion described itself as 'dedicated to making contemporary ready-made pieces for every woman'.
“With more than 50 new styles that arrive per week, an ally fashion is good in question and the destination for women who can transcend the boundaries of fashion – defend trends and make it their own,” said it on his LinkedIn page.
Certain types of expenses by Aussies have been reduced as a result of the costs of a living crisis and thousands of retail tracks have been lost.
The fashion brand has joined a list of retailers who perished during the costs of a living crisis.
Australian luxury fashion brand Harrolds closed after almost 40 years of operation and Dion Lion also failed, despite the dressing of people as A-list celebrities.
