Australian footwear retailer Betts has entered administration, marking a major setback for the long-running shoe chain.
The company, which operates 35 stores around the country, is preparing to close more than half of its shopfronts as it shifts its focus toward an online-only business model.
Administrator Lindsay Bainbridge, of Pitcher Partners, said a number of Betts stores were no longer financially viable.
“Australians grew up with Betts shoes, they know and love the brand, and we believe it has a strong outlook as a more streamlined operation,” Mr Bainbridge said.
“But retail conditions and declining foot traffic in many shopping centres are simply not sustainable for the business.
“We will close some stores, focus on strengthening others, and continue the company’s plans to expand retail online.”
Mr Bainbridge said about 120,000 pairs of shoes, along with bags and accessories, would be discounted as part of the store closure process.
“Customers can check stock online, but the biggest discounts will be available at stores earmarked for closure, where we will be clearing remaining stock,” he said.
Australian footwear chain Betts has plunged into administration
At its peak, Betts operated 220 stores across the country.
Betts is the latest store in the Australian fashion industry to shut down.
In June, Glue announced it was permanently closing its doors after nearly 30 years.
The iconic retailer, best known for brands such as Paul Frank and G-STAR in the 2000s, shut its online store on June 14, with its remaining physical shops closed the following days.
‘After many years of bringing you the styles you love, the best street and contemporary fashion, it’s time for us to say goodbye,’ it said.
‘We are so grateful for your loyalty and support over the years. Thank you to every single person who shopped with us, supported us and made Glue what it was.
‘It’s meant everything.’
Customers were distraught by the shock closure, with one sharing: ‘End of an era.’
In June, Glue announced it was permanently closing its doors after nearly 30 years
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‘This is a sad, sad day… Never forget the G-STAR and Henleys 2011-2015. Love you forever Glue,’ another revealed.
‘Glue, you were incredible. I may have aged out a bit from you but I always found the best fits when I was younger. It’s sad that more people don’t care,’ one added.
‘I’m so mad – I love this store. I’m crying,’ another said.
‘Wow I was there for when the online store opened and boomed! Now look, so sad,’ one shared.
Craft retailer Lincraft announced in the same month it was shutting down its brick and mortar stores after 80 years in business.
‘We remain committed to serving our customers throughout this period and helping you continue the projects and passions you love,’ a statement read.
‘Importantly, Lincraft will continue to operate online, allowing customers to shop with us as the transition unfolds.’
The business thanked customers for its support and Daily Mail understands stores will close in the coming months.
Craft retailer Lincraft announced in the same month it was shutting down its brick and mortar stores after 80 years in business
‘For generations, Lincraft has been more than just a store,’ the company said.
‘It has been a place where ideas came to life, where families learned to sew and knit together, where projects were started, gifts were lovingly handmade, and lifelong creative passions were nurtured.
‘We understand that Lincraft holds a special place in the hearts of many customers, and we know this news will be disappointing for those who have shared our love of creativity, crafting, sewing, knitting, and home projects.’
