Josh Goot e nters administrations, stores to stay open
Josh Goot, the Australian fashion designer based in Sydney, has entered into voluntary administration and engaged administrator Mike Smith of Smith Hancock "to restructure the business in order to protect the company’s future," according to Vogue Australia.
One of the main reasons to enter administration, Goot said, was the "well documented difficult trading conditions in the fashion industry." Goot has two stores, in Sydney and Melbourne, and wholesales to retailers including David Jones. His stores will remain open, and the new fall-winter 15/16 collection will be delivered in March/April.
"We are in the early stages and the specifics [of the restructure] are a matter for the administrator," Goot told Vogue Australia.
"Over 10 years in business, we learn every day. It has been a very challenging period, but I’m proud of what the label has achieved," says Goot.
"We would like to thank all of our customers for their loyalty and support over 10 years," he added. "We strongly believe in the label and are committed to its future."
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