Colette by Colette Hayman to shut 33 stores in effort to save company

Collapsed fashion retailer Colette by Colette Hayman will close 33 stores across the country as the company looks to be snapped up by potential buyers.

Colette entered voluntary administration earlier this month following a troubled Christmas trading period and after a funding deal to save the business fell through. Deloitte administrators Vaughan Strawbridge, Sam Marsden and Jason Tracy were placed in control of the business.

Handbag seller Colette by Colette Hayman will shut 33 stores.Credit:Janie Barrett

They announced on Friday that 33 of Colette's 137 stores would be closed over the next three weeks, including outlets in Adelaide's Rundle Mall and Melbourne's Spencer Street.

Deloitte could not provide details on the specific number of jobs that would be affected by the closures, but noted staff would be reassigned where possible and paid wages and entitlements in full.

"This is never easy and we have regrettably had to make the decision to close 33 stores," Mr Strawbridge said.

"We are working closely with the Colette management team to effect the closures quickly, while seeking to redeploy staff impacted."

Since its collapse, the administrators say customers have shown support for the brand, boosting hopes it could be restructured and bought by a third party.

Initial expressions of interest from buyers are due early next week, with the administrators saying there was "strong interest".

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