As online shopping gets bigger and bigger, and more and more international high street brands bring their bargain-price clothing to our shores, local labels are feeling the pinch.
Today Marcs and David Lawrence have gone into voluntary administration, citing deteriorating sales, market conditions and poor cash flow.
Both labels were founded in Australia in the ‘70s (David Lawrence in 1978 and Marcs in 1979) and the move puts over 1000 jobs at risk.
Webster Holdings Pty Ltd and Webster Asset Pty Ltd, which owns both brands, has appointed voluntary administrators Insolvency Experts Rodgers Reidy to seek a buyer.
They have assured customers that gift cards and returns will be honoured.
Webster Holdings bought David Lawrence in 2000 and Marcs in 2006, from Oroton.