Australian Shoe Retailer Betts Collapses, Shifts to Online-Only Model
The iconic footwear chain is closing more than half of its physical stores as it undergoes administration and pivots to a digital-first strategy.
Australian footwear chain Betts has entered administration, leading to the closure of over half of its physical stores nationwide as the company transitions to an online-only business model. The move comes as many of Betts' brick-and-mortar locations have become unsustainable due to current retail conditions and declining foot traffic.
Lindsay Bainbridge of administrator Pitcher Partners stated that while many stores were no longer profitable, the Betts brand remains strong and has a positive outlook as a more streamlined operation. The company plans to focus on strengthening its remaining outlets and expanding its online retail presence.
As part of the administration process, approximately 120,000 pairs of shoes, bags, and accessories will be put on sale at the stores slated for closure. Customers are advised to check stock online, but the best deals will be found in the outlets that are shutting down.
At its peak, Betts operated 220 stores across Australia. The closures will affect numerous locations, including stores in Western Australia (Hay Street Mall, Gateway, Mandurah, Watertown Brand Outlet, DFO Perth, Whitfords, and one of two Joondalup stores), South Australia (Westfield Tea Tree Plaza, Westfield West Lakes, Westfield Marion), Northern Territory (Casuarina Square), New South Wales (Macquarie Centre, Westfield Liverpool, Rouse Hill Town Centre, Westfield Kotara), Victoria (Greensborough Plaza, Eastland Shopping Centre, Westfield Doncaster, Westfield Fountain Gate), and Queensland (Indooroopilly Shopping Centre).