TOPSHOP IN ADMINISTRATION

Topshop Topman Australia has been put into voluntary administration by Ferrier Hodgson.  The Topshop Topman franchises in Australia are owned by the Austradia group, has 760 employees, and nine stores across Australia.  One of the administrators, James Stewart, has spoken out to reassure consumers that the administration is merely a protective measure to ensure the operations of the company are running as efficiently as possible.  Employees can still expect to be paid, but redundancies could be on the horizon, as high wages and rents are contributing to the difficult conditions facing retail.  Myers have an exclusive department store partnership with Topshop Topman and have a 25% investment in the brand.  This news comes right after the launch of the Australian Topshop and Topman e-commerce sites.