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Kiwi fashion label Andrea Moore goes under

Author
NZN,
Publish Date
Tue, 9 Jan 2018, 11:39AM
Andrea Moore Fashion show at NZFW in 2015. (Photo / Norrie Montgomery)
Andrea Moore Fashion show at NZFW in 2015. (Photo / Norrie Montgomery)

Kiwi fashion label Andrea Moore goes under

Author
NZN,
Publish Date
Tue, 9 Jan 2018, 11:39AM

Kiwi fashion brand Andrea Moore has gone into liquidation.

The company, which has 22 staff across seven stores in Auckland, Wellington and Christchurch, on Tuesday confirmed it had appointed liquidators and then receivers.

"Though we have a loyal customer base of over 30,000 our problems will be familiar to anyone conversant with the hugely capital-intensive nature of the industry which has become very discount-driven affecting valuable margins," managing director Brian Molloy said in a statement.

He said the company had hit a "perfect storm" last year.

"Highly damaging late delivery, crippling creditor payment defaults and to cap it off extensive roadworks outside our retail stores in both Auckland and Christchurch constraining our passing trade for months on end."

However, the company admitted some mistakes had been made.

"Molloy however does plead to missteps on the part of the brand's strategies of undercapitalised bricks and mortar store expansion in a time in hindsight best suited to consolidation and focusing on the parts of the business that were most future proof and profitable," it said.

In a separate statement, receivers Conor McElhinney and Andrew Grenfell of McGrathNicol said the business's stores would continue to trade while working out options.

Andrea Moore opened its first store in Wellington in 1999.

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