Australian fashion retailer Cue Clothing Co is closing a further 26 stores across its Cue and Veronika Maine brands as receivers continue negotiations with potential buyers.
The latest closures follow the shutdown of five underperforming stores in September, after the company entered voluntary administration and receivership.
Receivers and managers FTI Consulting confirmed that offers had been received for the business, with a small number of prospective buyers shortlisted. However, commercial negotiations are still underway.
As part of the sale process, interested buyers were asked to identify which stores they would retain under new ownership. Feedback revealed 26 locations across both brands that prospective buyers were not seeking to continue operating.
The closure programme begins on 15 October, with individual stores to shut as existing stock is sold.
FTI Consulting said it would seek to redeploy affected employees into continuing stores wherever possible.
Both Cue and Veronika Maine will continue trading during the sale process, with the future ownership of the Australian fashion brands yet to be determined.
