Australia’s retail market is dominated by a number of large players, with smaller retailers exposed to a high risk of insolvencies.
The retail sector has recorded higher-than-usual numbers of insolvency appointments in recent times, with even bigger retailers being affected. To achieve necessary growth, most retailers need to achieve economies of scale, centralise their management, and capture customer buying power.
Retailers are facing increased shipping costs and supply chain disruptions, alongside the rise of direct-to-consumer marketing via platforms like Instagram and TikTok, which allow designers to bypass traditional retailers. Meanwhile, brick and motars are grappling with the challenge of adjusting store numbers and locations due to reduced foot traffic in city centres, while also managing accrued lease liabilities.
As retailers adapt, many are reevaluating their store footprints, moving from city centres to suburban areas, and addressing the ongoing lease deferrals. Additionally, the rise of e-commerce, accelerated by COVID-19, and the shift to flexible workplaces have reshaped the retail landscape, especially in urban areas.
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Olvera principals were appointed as Voluntary Administrators of the Keystone group. We played a key role in facilitating the ongoing trading operations and venue sales.
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