The retail apocalypse claims yet ANOTHER victim, as beloved Australian designer brand Tuchuzy shuts its doors after 25 years
- Tuchuzy will go into voluntary administration, it was announced on Wednesday
- The Bondi store operated for 25 years and sold top brands like Ksubi and Bassike
- It comes after Australia's retail sector suffered its worst slump on record
- A string of other stores have also closed in wake of coronavirus including Target
- Here’s how to help people impacted by Covid-19
Beloved designer store Tuchuzy has become the latest Australian brand to fall victim to the retail apocalypse, which has seen shop doors shut across the country.
The high end women's fashion retailer, that sits in the heart of Sydney's Bondi, announced it was going into voluntary administration on Wednesday night.
The store had been open for 25 years and housed a string of top brands including P.E Nation, Ksubi, Rag and Bone and Bassike.
Tuchuzy's closure follows a long line of other Australian retailers that were forced to shut their doors for good within the last year, a trend hastened by the coronavirus pandemic.
Tuchuzy (pictured) a high-end women's retailer in the heart of Bondi, will be shutting its doors
The store had been operating for 25 years and housed a string of top brands like P.E Nation, Ksubi, Rag and Bone and Bassike (pictured, a model showing off the store's clothes
Daria Sakic (pictured), the founder of Tuchuzy announced the store would be going into voluntary administration on Wednesday night
'Today (founder Daria Sakic) made the hard decision to put Tuchuzy Bondi into voluntary administration,' an email to suppliers read, The Daily Telegraph reported.
'We all hope that this restructure will lead our business to a better and stronger future.
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'It is our intention to continue trading Tuchuzy's business while we undertake an urgent assessment to determine the best course of action to preserve its business.'
The store had only just reopened at the start of May after shutting down due to coronavirus.
It comes after the Australian retail sector suffered its worst slump on record for this time of year.
The coronavirus pandemic resulted in a 17.7 per cent drop in sales throughout April 2020.
The coronavirus pandemic resulted in a 17.7 per cent drop in sales throughout April 2020 (pictured, an empty shopping mall in Melbourne on March 29)
Clothing and footwear were the hardest hit, but historic lows were also recorded across the food and hospitality sector.
New data from the Australian Bureau of Statistics on Thursday revealed the industry continues to struggle after the economic blow of the summer's bushfires.
There was a 53.6 per cent drop in clothing, footwear and personal accessory shopping and a 35.4 per cent drop in cafes, restaurants and takeaway food services.
Department stores also lost 14.9 per cent of sales from this time last year.
On the other hand, online sales doubled from this time last year, making up 11 per cent of all retail turnover for April 2020, compared with only 5.7 per cent the previous year.
Tuchuzy was a beloved Sydney store (pictured, one of its models) which was open for 25 years
Australia's retail sector was hit with another blow after it was recently announced that department store giant Target would close 167 of its stores.
Target's parent company Wesfarmers announced that 75 stores would close and 92 others would be transformed into Kmarts.
Target staff will be offered jobs at Kmart or other Wesfarmers companies, including Bunnings and Officeworks.
At the end of May, British luxury clothing store Jigsaw London announced it would shut down all of its Australian stores due to the COVID-19 pandemic.
Australia's retail sector hit a hard blow after the outbreak of coronavirus with shopping malls captured empty at the height of the pandemic (pictured, an empty QVB on April 1)
Australia's retail sector was hit with another blow after it was recently announced that department giant Target would close 167 of its stores (pictured, a close store in Melbourne)
PAS group, which owns 225 shops in Australia and NZ, also went into financial administration.
Meanwhile, David Jones is set to shut down some of its 48 department stores due to suffering $464 million in debt following a loss of sales.
Household names including Harris Scarfe, Bardot, Roger David, and Napoleon Perdis also dropped like flies in the past year with dozens of stores closing resulting in heavy job losses.
Alex Perry also announced the closure of its brick and mortar stones to focus on online sales.
Jeanswest and Colette by Colette Hayman also fell victim to the retail apocalypse.
Meanwhile, David Jones is set to shut down some of its 48 department stores due to suffering $464 million in debt following a loss of sales (pictured, Highpoint Shopping Centre on May 4)
