Voluntary Administrator appointed to Payless ShoesDOWNLOAD
21 September 2012: Deloitte Restructuring Services Partners David Lombe and Vaughan Strawbridge were appointed Voluntary Administrators of retailer Payless Shoes Pty Ltd late on 21 September 2012.
Payless Shoes is Australia’s largest independent shoe retailer and operates around 230 stores across the country.
David Lombe stated: “Stores will continue to trade as normal while an urgent assessment of the company’s financial position is undertaken. A sale of the business is likely to commence shortly.”
A creditors’ meeting will be convened by the Voluntary Administrators shortly, where they will outline their role and initial findings.