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Two Of Australia's ICONIC Fashion Brands Could Close

The company hat owns both Marcs and David Lawrence has announced it is in voluntary administration.

It affects the companies operations in both Australia and New Zealand and was announced early this morning.

Poor sales and market conditions have led to the company to appoint administrators Rodgers Reidy to look after the business.

In Australia, there are 1130 staff, including 260 full-time workers, employed across their stores.

At present, gift cards will be honoured while they look for a buyer.

"We intend to review the operations of the businesses and continue to trade while we market the businesses for sale," said Rodgers Reidy director Geoffrey Reidy.

Employees wages have currently been paid until the end of January.

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