Popular 21-year-old swimwear label Tigerlily has entered voluntary administration following the hardship that the coronavirus has already brought to the retail world. KordaMentha's Scott Langdon said the brand 30 bricks-and-mortar stores are continuing to trade, although that may be reduced given the current retail climate and based on future recommendations from the government. "Tigerlily was impacted negatively by the downturn in the retail sector but more particularly, coronavirus," explained Langdon. "There was limited foot traffic through shopping centres and therefore sales. Without a doubt, the sales data is overwhelming that it’s definitely significantly slowed since coronavirus has come through. It’s incredibly telling."
Langdon continued to say that it is inevitable that some businesses won't survive the current retail climate. There is also the possibility Tigerlily will choose to move online-only following these events. All staff and sites have been notified.
