Independent retailers have continued to feel the sting of tough trading conditions, with an eveningwear and surfwear chain plunging into liquidation.
Ragtrader can reveal Chic Collections is in liquidation, owing $550,000 to creditors including Colonial First State Asset Management, Grand Development, Lamothe and the Australian Taxation Office. Chic Collections offers eveningwear, bridesmaids and formal garments. According to documents lodged with the Australian Securities and Investments Commission, Geoffrey Philip Reidy of financial firm Rodgers Reidy was appointed as liquidator of the company, with a meeting of creditors staged on August 14. The firm had $200,000 in assets at the time of the appointment.
Newcastle-founded company Wild Surf Co, established in 1981, has also plunged into liquidation affecting workers at its four stores at Charlestown Square, Jesmond shopping centre, Westfield Kotora and Stockland Bay Villange on the Central Coast. The company also owns a Breakaway Surf Co store at Westfield Kotora.
While creditor documents were not available at time of press, it is understood around 38 full-time and casual staff have been affected across the sites.
The retailer stocks over 95 surf, skate and snowboard brands including Billabong, Quiksilver, Hurley, Element, Rip Curl and Nixon.
Billabong: Stocked at Wild Surf Co.
