Colorado Group Limited
Encyclopedia
Colorado Group Limited is an Australian public company that operates a number of retail clothing chains. Major brands include Colorado Adventurewear, Mathers, Williams the Shoemen, JAG, Diana Ferrari, and Pairs. The company is based in Brisbane
, Queensland
with an office in Cremorne, Victoria
. The companies history dates back over 140 years to the 1864 founding of Williams in Ballarat, Victoria
.
Colorado has 434 stores in Australia and New Zealand, and employs 3800 people. It owes around 400 Million to 18 financiers.
Colorado Group Limited was de-listed from the Australian Securities Exchange
(ASX) on 15 August 2007 following the issue by ARH Investments (Australia) Pty Limited of compulsory acquisition notices on 3 July 2007.
The Colorado clothing retail group went into receivership on 30 March 2011. Insolvency
accounting specialists Ferrier Hodgson
were placed in charge of the group. Colorado was owned by Affinity Equity Partners
.
In June 2011 it was announced that the clothing chain was to "shut its doors" at the cost of 1,042 jobs. In Australia 100 underperforming Colorado stores will shut, 21 Williams stores, 7 Mathers stores, 2 JAG stores and one Diana Ferrari store. In New South wales 42 stores will close, and in Victoria 27 will close. 9 Colorado Stores in New Zealand will also close.
Colorado will cease selling its' clothing lines, returning to its' beginning as a shoe brand which will be sold through the company's Mathers and Williams the Shoemen stores, and online.
Brisbane
Brisbane is the capital and most populous city in the Australian state of Queensland and the third most populous city in Australia. Brisbane's metropolitan area has a population of over 2 million, and the South East Queensland urban conurbation, centred around Brisbane, encompasses a population of...
, Queensland
Queensland
Queensland is a state of Australia, occupying the north-eastern section of the mainland continent. It is bordered by the Northern Territory, South Australia and New South Wales to the west, south-west and south respectively. To the east, Queensland is bordered by the Coral Sea and Pacific Ocean...
with an office in Cremorne, Victoria
Cremorne, Victoria
Cremorne is a suburb in Melbourne, Victoria, Australia, 2 km south-east from Melbourne's central business district. Its Local Government Area is the City of Yarra...
. The companies history dates back over 140 years to the 1864 founding of Williams in Ballarat, Victoria
Ballarat, Victoria
Ballarat is a city in the state of Victoria, Australia, approximately west-north-west of the state capital Melbourne situated on the lower plains of the Great Dividing Range and the Yarrowee River catchment. It is the largest inland centre and third most populous city in the state and the fifth...
.
Colorado has 434 stores in Australia and New Zealand, and employs 3800 people. It owes around 400 Million to 18 financiers.
Colorado Group Limited was de-listed from the Australian Securities Exchange
Australian Securities Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
(ASX) on 15 August 2007 following the issue by ARH Investments (Australia) Pty Limited of compulsory acquisition notices on 3 July 2007.
The Colorado clothing retail group went into receivership on 30 March 2011. Insolvency
Insolvency
Insolvency means the inability to pay one's debts as they fall due. Usually used to refer to a business, insolvency refers to the inability of a company to pay off its debts.Business insolvency is defined in two different ways:...
accounting specialists Ferrier Hodgson
Ferrier Hodgson
Ferrier Hodgson is a group of Accounting firms specialising in Insolvency in the Australian and Asia Pacific region, with offices in all major capital cities in Australia, Singapore, Malaysia, Indonesia, and Japan...
were placed in charge of the group. Colorado was owned by Affinity Equity Partners
Affinity Equity Partners
Affinity Equity Partners is one of the largest dedicated Asian private equity firms and focuses on leveraged buyout and growth capital transactions...
.
In June 2011 it was announced that the clothing chain was to "shut its doors" at the cost of 1,042 jobs. In Australia 100 underperforming Colorado stores will shut, 21 Williams stores, 7 Mathers stores, 2 JAG stores and one Diana Ferrari store. In New South wales 42 stores will close, and in Victoria 27 will close. 9 Colorado Stores in New Zealand will also close.
Colorado will cease selling its' clothing lines, returning to its' beginning as a shoe brand which will be sold through the company's Mathers and Williams the Shoemen stores, and online.