Missed this yesterday. Napolean Perdis this time:
“I blame a lot of factors, from greedy landlords who will not allow us out of leases and who then charge us ‘de-fit’ costs on the stores … that’s cost me $3.5 million alone. The malls are dead, there’s no foot traffic, everyone’s buying cosmetics online but the landlords don’t want to hear about it.
“The bank wanted me to hire a consultant, which we did. That cost me another $600,000 and it’s done f— all. The retailers want to bring in global brands into their stores, but that means a local Australian brand like mine cannot compete.