The stores that the brand is looking to exit are located across Australia and New Zealand.
Responsible for a number of brands such as The Just Group, Just Jeans, Jacqui-e, Peter Alexander, Jay Jays, Portmans, Dotti and Smiggle, Premier Retail has enjoyed a strong retail result in the past. Due to the ongoing effects of the Coronavirus pandemic and the struggle that many retailers have endured to keep up with rent payments, the brand has now announced that it is looking to exit as many as 350 store locations.
While the Chairman of the group Solomon Lew has commented that the brand has seen a strong growth in their online business, that in contrast their bricks-and-mortar retail locations have seen a dramatic shift that has been a significant contributing factor that has led to the decision of store closures.
Lew has commented: “We’ve got plenty of landlords we’ve come to agreements with, because there’s plenty that get it. But we take every store, every decision, as it comes based on the shop’s profitability. And pleasingly there are a lot of landlords who respect and value the brand… and then some landlords who don’t get it. And if they don’t offer us rent that can keep our stores profitable, we close.”
