In the midst of Napoleon Perdis’ business troubles, fans of the renowned cosmetics brand are wondering what’s in store for the remaining retail outlets across the country.
Following the shutting down of 28 stores in January 2019, Napoleon Perdis confirmed that the remaining shops, including the six in Queensland will continue their operation.
These are the stores in Brisbane’s CBD, Chermside, North Lake, Robina, and Rockhampton. The one in Chermside is located on the Level 2 of Eastern Mall at 2646A Gympie Rd.
Worrells Solvency & Forensic Accountants assessed each store’s performance and positioning in its current market environment. Administrator Simon Cathro said they identified which stores to close based on the result of the review.
Cathro added the Napoleon Perdis reported a strong performance during the last week of January 2019 when it slashed it prices by 30 per cent.
The administrators emphasized that they are aware of its impact on employees and customers, assuring that the staff will be paid their wages owing up to the date they are terminated.
“This will affect customers who have upcoming makeover bookings in these locations. We have a team of staff working to contact every customer with a booking. Where we can, we will attempt to accommodate bookings in other stores,” Perdis wrote on the brand’s official Facebook page.
Why Napoleon Perdis’ Stores Closed
The shutdown is part of Worrells Solvency & Forensic Accountants’ right-sizing process to sell or restructure the business to keep it alive. It was revealed in a document filed to the corporate regular that the company was already on the brink of insolvency a year before more than half of its stores were closed earlier in 2019.
Perdis cited “greedy” landlords as one of the reasons of the collapse, explaining that these landlords would not reduce rent or let him out of leases in spite the fact that shoppers are already shifting online.
“And while it feels like a sad time, this is not goodbye, and it gives us the best opportunity to keep the business trading,” Perdis said.
In 1995, the Australian makeup artist created his line of cosmetic products and sold it in his first store in Paddington with the help of his father. Fast forward to 2011, Perdis has 65 stores across New Zealand and Australia and expanded to the United States. The business mogul went into voluntary administration in 2019.
For updates on Napoleon Perdis, visit the cosmetics brand’s website and follow their Facebook page.
