Betts enters administration and will close 20 stores as shoe chain shifts online
Betts has entered voluntary administration and will close 20 of its 35 stores as the 134-year-old Australian shoe brand shifts to a more streamlined online-focused future.
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Betts enters administration as 134-year-old shoe chain closes 20 stores
Australian footwear retailer Betts has entered voluntary administration, triggering the closure of 20 stores nationwide and marking one of the biggest shake-ups in the company’s 134-year history. The family-owned brand, founded in Western Australia, will keep 15 stores trading for now, including flagship locations in Sydney, Melbourne and Perth.
The move comes after years of shrinking store numbers as shoppers increasingly moved online and foot traffic weakened in retail centres. Betts had already been reducing its footprint, but the company said recent pressure from softer consumer sentiment, higher fuel prices and rising business costs forced it to accelerate the restructure.
Administrator Lindsay Bainbridge of Pitcher Partners Melbourne said the retailer can still rebuild around a smaller store base. “Australians grew up with Betts shoes; they know and love the brand, and we believe it has a strong outlook as a more streamlined operation,” he said. He added that the tough retail climate and falling foot traffic were “just not sustainable” for the business, and that Betts plans to continue expanding online.
Discounting has already begun across the stores marked for closure, with sales starting at 50 per cent off the full range of women’s shoes, bags and accessories. More than 120,000 pairs of shoes, bags and accessories are set to be sold off as part of the wind-down.
The biggest impact will be felt in Western Australia, where seven of the state’s 11 stores are set to close. All three South Australian stores will shut, along with the Darwin outlet, while four stores will close in New South Wales, four in Victoria and one in Queensland.
Betts had previously been signposting change. In June, the company said it had appointed an administrator to speed up the closure of uneconomical stores in a bid to return the business to profitability. Earlier brand repositioning efforts also showed the company was trying to adapt to the shift away from traditional retail.
For a heritage brand that once operated nearly 220 stores at its peak, the latest move underlines how hard it has become for legacy retailers to keep large physical networks alive. Betts now hopes a leaner store footprint and stronger online sales can preserve what remains of the business.
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