High-end headphone giant Bose has announced it will close 119 of its stores, including all of its Australian stores in the latest blow to the country’s retail market.
The technology company said that a “dramatic shift to online shopping” was the main reason for the closures – but did not reveal how many jobs were lost.
The US-based retailer also said that termination benefits would be offered to those affected, as well as “outplacement assistance.”
Hundreds of employees at the company worldwide in North America, Europe, Japan and Australasia will lose their jobs, The edge reported.
Headphone giant Bose (Westfield store in the CBD of Sydney in the photo) has announced it will close all its Australian stores
“Additional details, including the number of employees affected, remain private,” said Bose’s vice president of global sales Colette Burke in a statement.
She said that while the starting point for the headphone store stores was at their first launch to give people the chance to test and experience Bose products, consumer habits had now changed.
A pair of QuietComfort noise-canceling headphones are shown. The American company said that a “dramatic shift to online shopping” was the main reason for the closures
“Originally, our stores gave people the opportunity to experience, test, and talk to us about multi-component, CD and DVD home entertainment systems,” she said.
“At the time, it was a radical idea, but we focused on what our customers needed and where they needed it – and we’re doing the same thing now.”
‘Over the years they have set the standard for customer service. And everyone at Bose is grateful. ”
It is understood that eight stores are closed Down Under, 9News reported.
Since opening its first US store in 1993, the company has opened its physical stores to demonstrate its products.
The leading products include built-in car audio systems and noise canceling headphones.
On Wednesday, KPMG’s Peter Gothard and James Stewart were appointed as voluntary managers of the Australian operations of Jeanswest, which has 146 stores throughout Australia
Daily Mail Australia has contacted Bose for the exact number of Australian stores due to the closure.
The news comes just one day after the iconic Australian clothing giant Jeanswest announced that the voluntary administration had entered.
The announcement left nearly 1,000 employees in 146 limbo stores.
On Wednesday, KPMG’s Peter Gothard and James Stewart were appointed as managers of the Australian activities of the fast-fashion retailer.
Jeanswest is an iconic Australian retail brand that opened its first store in Perth in 1972 and employs 988 people in 146 stores throughout Australia.
Like many other retailers, KPMG bosses said Jeanswest was challenged by today’s difficult market conditions and the pressure of online competition
Dropping like flying: some recent Australian victims
2016: Dick Smith, Masters hardware, Payless Shoes
2017: Topshop Australia
2018: Avon, Espirit, Toys ‘R’ Us, Max Brenner, Roger David
2019: Ed Harry, Diana Ferrari, Napoleon Perdis, Beds R Us, Ziera, Bardot, Harris Scarfe, Jeanswest
In 2017, the owner of Jeanswest claimed that Australians are spending their money on “lifestyle spending” on travel and TVs, rather than buying new clothes.
He said this led to “lethargic” and “lazy” shopping habits.
Between 2015-2016, Jeanswest sales for Jeanswest decreased 12.3 percent to $ 181.5 million.
The voluntary administration of Jeanswest is in the midst of the terrible turn of the retail market in Australia.
More than 170 stores are tipped to close this year.
Household names such as Harris Scarfe, Bardot, Roger David and Napoleon Perdis have fallen as files last year with dozens of stores closed, resulting in heavy job losses.
Experts argued that those companies could be the tip of the iceberg because consumers are increasingly focusing on online shopping about bricks and mortar stores.
Experts have warned that Bardot and Harris Scarfe are just the beginning of the demise of major Aussie brands
Australian retail growth has been at the worst level since the recession in the early 1990s and international giants such as Amazon and Aldi are threatening to foster turmoil.
Entrepreneur Dick Smith believes that the outlook is so bad that noticeable collapse will accelerate until little is left.
‘Job loss is worrying. We have planned 170 retailers to close just two weeks in January this year, “he said today.
In a conversation with Daily Mail Australia, Smith said that internet companies had caused the retail disaster.
Household names such as Harris Scarfe, Bardot, Roger David and Napoleon Perdis have declined in the past year as stocks have fallen with dozens of stores closing and heavy job losses
“We will end up with only Amazon and Aldi and in principle all Aussie companies will go bankrupt,” he said.
“All those famous brands will disappear. Some of them may exist only in name, but will be taken over by foreign companies. “
Smith watched the electronics chain that bore his name in 2016, decades after he sold it in 1980. The collapse was one of the biggest failures in Australia.
Harris Scarfe, founded in 1849, also surprised consumers when it entered administration last month and is now closing at least 21 stores.