Aussie Fashion Retailer Collapses Amid Cost-of-Living Crisis
Ally Fashion has shut down nearly a third of its stores across the country, with 250 jobs lost. The closures mean 51 retail stores have ceased operating, including 19 in Queensland, 11 in New South Wales, eight in Victoria, seven in South Australia and six in Western Australia. Following an urgent assessment by liquidators, the business will continue to operate in the short term while exploring options for restructuring or sale.
- The collapse of Ally Fashion highlights the vulnerability of fast fashion retailers to changing consumer preferences and economic pressures.
- What role can policymakers play in supporting struggling retailers during times of crisis, and how might they be able to adapt to emerging trends in sustainable fashion?