The Australian operations of clothing firm Ed Hardy have filed for voluntary administration.
Deloitte partners Simon Wallace-Smith and Tim Norman were appointed administrators last week by the company, which sells denims, hoodies, tees, singlets, swimwear, jewellery, footwear and sunglasses.
Wallace-Smith said the appointment has been brought about by slowing sales and the competitive nature of the country’s retail industry.
The unit has stores in the Australian states of Victoria, NSW, Qld, SA and WA.
Six stores will remain open for trading while the voluntary administrators assess the situation, with four others to close.
“The aim of the voluntary administrators will be to evaluate the financial position of the companies and to investigate options to restructure the business,” Wallace-Smith added.
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