Roger David enters voluntary administration
Business Insider Australia reported that Roger David, Australia’s third largest Australian menswear retailer, has succumbed to the retail crunch and increasing competition online and has gone into voluntary administration. The 76-year-old company says it couldn’t compete with global retailers operating in Australia and with digital sites. Its 57 stores, with 300 staff, will continue to trade under administrators for the time being. Combined with tough market conditions, this situation is yet another example of how out of control utility prices have hit discretionary spending hard with serious consequences for specialty retailers.