Marquee Retail Group Appoints Administrators

Reading Time: 2 mins
By Published On: April 4, 20240 Comments

Marquee Retail Group is the parent company of Colette by Colette Hayman and The Daily Edited (tde.).

Formed just over a year ago, Marquee Retail Group has collapsed into administration. The company owns the brands Colette by Colette Hayman and The Daily Edited (tde.) 

Owner and Chair Bernie Brookes formed the group after he became a major shareholder of tde. in December 2022, joining Colette by Colette Hayman, which the former Myer and Edcon CEO acquired alongside fellow former Myer executive John Skellern in September 2020. MRG launched with these two brands in March 2023.

In an announcement released earlier this week, it was revealed that Marquee Retail Group has appointed Domenic Calabretta, Mitchell Ball, and Richard Lawrence of insolvency firm Mackay Goodwin as voluntary administrators. 

According to the company, Marquee Retail Group has felt the impact of an unplanned downturn in sales from October 2023 to March 2024, citing, “rising inflation and increased interest rates”. 

Owner and chairman of the board Bernie Brookes said: “Our decision today is about securing the future of the Marquee Retail Group and its employees, while emerging on the other side of Voluntary Administration. We hope to work with all parties to ensure an outcome, either with a sale or a Deed of Company arrangement recommended in time by the Administrator.”

“The Board of Directors regret that these events have come to pass and acknowledge all the Group’s employees for their hard work and contribution,” said Brookes.

Marquee Retail Group currently employs over 400 staff with 60 stores in operation. The group emphasises that while under voluntary administration, it will be business as usual with no store closures or staff reductions planned at this stage. 

“For our customers, everything will remain consistent as our stores continue to operate and receive regular stock,” said Brookes. “As for our staff, their routine remains unchanged until the Administrator decides upon an outcome and a way forward.”

The company noted it will not make any further comments until the process of Voluntary Administration is concluded.

About the Author: Rosalea Catterson

Rosalea is the Editor of Power Retail. With a keen interest in consumer behaviour and tech, she covers everything ecommerce and hosts the Power Retail Power Talks Podcast.

Share this story!

Leave A Comment