The fate of Ksubi appears to have been decided — the Aussie street fashion icon has closed its boutiques and is not trading via its online store.
Inside Retail reports that Ksubi's store staff were informed of closures yesterday morning. This includes the prime Westfield Sydney, Oxford St, Melbourne St and Chapel St locations. The online store simply features the sign 'the online store will be back soon'.
The label was placed into administration last year; its fate has been in the hands of Veritas Advisory, a liquidation and bankruptcy firm.
If this is the end for Ksubi, it's not a shock — the label, which first came to prominence in 2000, has been struggling since the departure of founding Sydney designers George Gorrow, Gareth Moody, and Dan Single. A five year concession store deal with David Jones ended last year because of poor sales.
Parent company Bleach Group, which purchased Ksubi in 2008 and also owns Insight, was placed into voluntary administration in mid-2013.
(Via Inside Retail)
