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Typically you would ship that to an outlet store," he said.
However, Topshop's failure was "a unique situation" and its fate did not mean other international brands would have similar experiences in New Zealand."Its biggest challenge is that it was an expensive business model to run."One retail analyst who did not want to be named said Kiwi shoppers were more savvy than that and could easily go on websites and see what they were missing out on, and buy it.In a statement, Top Retail's directors said they were "committed to working closely with all local staff through this transition stage"."We have put our hearts and souls into this business, we have the best staff, great store locations, and the directors have left no stone unturned in trying to find a solution."We will work closely with the receivers to ensure the best possible outcome for the business and employees."The receivers, Mc Grath Nicol's Conor Mc Elhinney and Kare Johnstone, said the directors had blamed increasing competition and similar issues to the Australian business.
First Retail managing director Chris Wilkinson, said it was well known Topshop was experiencing difficulties in New Zealand."We did guess it was going to happen.
It was fairly well acknowledged in the retail community they were struggling," he said.