
Menswear retailer Roger David has entered voluntary administration, blaming global competition, stagnant sales and rising fixed costs.
"The company has been exploring all options, including a sale of the business, but has been unable to find an alternative to administration," said Craig Shepard, a partner at KordaMentha, the administrators.
Roger David has been selling suits and men's fashion since 1942, and had more than 100 stores at its peak — under its own brand name, RDX and Stray.
Since then, its store count has dwindled to 57, and it currently employs 300 people.
"Today marks a sad day for in the long history of Roger David menswear and for Australian retail," the company's directors Courtney Howe and Lauren Thompson said in a joint statement.
They said their understanding is that "the doors will remain open and it will be business as usual for the upcoming peak retail period in an effort to maximise the options for the business."
"Despite the directors' best efforts with the business, it simply could not compete with the influx of multinational retailers and the rapid, global evolution of online shopping."
Although they did not name any specific competitors, Amazon, H&M and Zara are commonly cited as the global retailers that have intensified competition for many local fashion retailers.
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I bought my first suit from them