Via the AFR:
Beauty and home products retailer Crabtree & Evelyn is the latest retailer to fall victim to lower discretionary spending by under-pressure households, with restructuring experts KordaMentha appointed to close down the entire Australian network of stores.
…The company has 12 stores across Australia in the country’s most prominent shopping centres…Rents for specialty retailers have been rising but sales are growing by less than 2 per cent, increasing margin pressure on retailers who have already been grappling with higher labour and energy costs.
…Crabtree & Evelyn employed around 100 staff, with $6.44 million in employment costs in 2017, down from $6.57 million the previous year.
Only small of course but typical with many more to come as the Bad Santa lands. From Citi:
