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Marquee Retail Group, the owner of accessory brands Colette by Colette Hayman and The Daily Edited, has appointed a voluntary administrator after failing to save both brands from collapse. The company said in a statement it plans to keep all 60 stores open while in voluntary administration and has no intention to reduce its 400 staff. A spokesperson said Marquee Retail Group hopes to continue operating after securing the sale of all or part of the business.
Marquee Retail Group was formed in 2023 after Brookes purchased The Daily Edited in 2022 and became chairman of the MRG board. MRG said the company had been impacted by a downturn in sales between October 2023 and March 2024, as a result of rising interest rates and inflation. It also blamed its ongoing debt with the Australian Taxation Office for its demise. Insolvency firm Mackay Goodwin will manage the company’s administration.
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