Iconic Aussie fashion retailer launches massive sale amid rumours stores will close after years of turmoil

Aussie fashion brand Colette has announced an 80 per cent off storewide sale amid speculation the brand is finally crumbling after years of financial hardship. 

Colette, which has sold handbags, clothes and accessories since 2012, has stores in NSW, Queensland, Victoria, the ACT, South Australia and Western Australia. 

Staff have revealed the stores will close for good once all the stock has been sold. 

One employee said they were told on Thursday the company had entered voluntary admission, 7News reports. 

Signs outside stores, including at Westfield Tea Tree Plaza in South Australia, are advertising massive sales of up to 80 per cent off. 

‘Final day of trade. 60–80% off. Everything must go!’ the notice to customers read. 

The fashion label, which trades as CBCH Group, first went into administration in January 2020 and was forced to close 100 stores.  

Bernie Brookes, the former boss of struggling department store chain Myer, acquired a 90 per cent stake in the group and proceeded to close 103 stores. 

This left just 35 remaining in Victoria, New South Wales, Queensland, South Australia and Western Australia.

Mr Brookes also announced a pivot to more online sales as the number of stores was reduced from 138 to 35. 

Sydney northern beaches entrepreneur Colette Hayman founded her fashion company in 2010 during the aftermath of the Global Financial Crisis.

Her brand grew to 180 stores in Australia, New Zealand, South Africa and the United Kingdom.

More to come.