Australian cosmetics empire Napoleon Perdis Group has gone into voluntary administration, putting jobs and 56 local stores at risk.
Company directors had been trying to find a buyer for months.
The struggling brand launched in 1995 by Australian makeup artist Napoleon Perdis, who started with a concept store in Sydney before expanding overseas in 2004.
Administrators will now consider a restructure or pursue the option of selling while the business continues to trade.
The collapse of the company comes after the arrival of international competitors Mecca and Sephora.
Mr Perdis tells Ross Greenwood malls have dropped the ball when it comes to enticing customers to spend money, saying it’s too easy for consumers to shop online.
“At the end of the day, I can buy everything off my phone.
“When I can buy everything off my phone at home, then why do I need to go into a mall?
“What they’ve done (the malls) is keep increasing costs.”
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