Herringbone Bankrupt

Herringbone Bankrupt

The Current Economic Climate (or CEC as I like to call it) has claimed another victim. Men’s and Women’s upmarket suit, shirt and related fashion accessories label Herringbone has fallen victim to the global slowdown by going into voluntary administration. Herringbone was founded in 1997 by two former merchant bankers, Matt Jensen and John Mutton.

Herringbone has recorded a 23 percent decline in sales over the past two months compared to the same period last year.

According to insolvency firm BRI Ferrier “The administrator is in discussions with Herringbone’s bankers, and is seeking their support to continue the business,”

“Expressions of interest are being sought from interested parties either to purchase the Herringbone business as a going concern or to recapitalise the existing business.”

The first meeting of Herringbone creditors is scheduled for December 17. Herringbone has 13 boutique stores throughout QLD, ACT, NSW and Victoria.

Fashion Review recently reported on the demise of Mad Cortes as Lisa Ho pulled the pin on her share of the label.

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