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Australian luxury fashion retailer Harrolds has fallen into bankruptcy due to debt of more than $16 million after 39 years in business.
SMB Advisory were appointed liquidators of the business on October 3.
More than 90 creditors are owed money, including Victoria Beckham’s company, which is owed $30,000, and two of Tom Ford’s companies, with a combined debt of $33,000.
According to documents filed with ASIC, Harrolds also owes the Australian Taxation Office more than $2.3 million, while employees are owed $190,000 in entitlements.
Harrold’s was Australia’s only privately owned department store, with outlets in Melbourne, Sydney and the Gold Coast.
In July, Harrolds announced it would temporarily close its online store.
Australian luxury fashion retailer Harrolds has fallen into bankruptcy due to debt of more than $16 million after 39 years in business.