Oroton
Enters Administration – the Oroton Group has been in the news since pulling the
plug on its GAP business earlier this year. The company announced that it has
undergone a strategic review and come to the conclusion that voluntary administration
is its best course.
Administrators
said they “will re-engage with interested parties
and stakeholders to progress a sale or recapitalisation”. The luxury fashion
accessory group operates over 50 stores across Australia and NZ.
One-liners:
1.
David Jones says “premium service” will help it beat Amazon.
2.
Solomon Lew expected to call EGM at Myer.
3.
Myer applauds its key suppliers.
4.
ACCC says it won’t protect retailers from the “harsh reality” of
Amazon.
5.
Billabong receives an offer from competitor Quicksilver.
6.
Gloria Jeans to focus on food offer following sales drop.