Napoleon Perdis announce massive sale as administrators attempt to recoup losses

1 min read

AKA up to 50 per cent off.

Stricken makeup chain Napoleon Perdis announced the appointment of adminstrators yesterday following a decline in market.

All 56 stores were closed for stocktake but have since re-opened with products up to 50 per cent off as liquidators Simon Cathro, Chris Cook and Ivan Glavas of Worrells Solvency Accountants attempt to recoup losses.

A spokesman confirmed the sale to Daily Mail Australia, but explained some details had yet to be finalised.

Despite this, the brand is offering up to 50 per cent off selected items on the website including lipsticks ($19), palettes ($30), mascara ($14.50) and brushes ($9).

These include $19 lipsticks, $30 colour palettes, $14.50 mascara and brushes starting from $9.

Perdis and administrators released a statement yesterday addressing the collapse:

“The brand is still in high demand from our customers and is more innovative than ever, so by restructuring the business in this manner, we believe, puts it in a prime position to continue to evolve through continued trade or in a sale,” the statement read.

“My family and I are 100 per cent committed to achieving the best outcome for all stakeholders. We are fortunate that throughout our business, we have staff and teams who have not only underpinned the business success, but who are our extended family.

“Their unwavering contribution will undoubtedly pave the way for the successful and strategic trade on. As we work towards our goals, we ask customers, suppliers and other interested parties to continue with their valued support of the brand.”

The news follows a number of high-profile companies entering administration in the last 12 months including Toys R Us, Max Brenner, Maggie T - or leave Australia altogether like Laura Mercier, Gap and Oroton.

Image: Getty 

Written By Ally Parker

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