REDgroup Retail administrators Ferrier Hodgson has announced that the remaining nine Borders stores in Australia will close.
The final Borders stores will close on July 17, but others may close sooner dependent on the sellthrough of remaining stock.
This announcement follows the administrators urgent call for buyers for the entire or part of the company.
Administrator John Melluish said the stores are closing because no buyers had emerged for the Borders outlets.
“The employees have shown extraordinary commitment in their efforts to keep the business going,” he said. “Unfortunately, the reasons for the store closures are beyond their control,” he said.
A total of 315 staff will be affected by the closures, which will take place over the next six to eight weeks. However, the administrators have said that it will only be responsible for all employee entitlements accrued from the date of the appointment of administration on February 17.
Payment of entitlements accrued prior to the administration is dependent on final stock realisation, which will be known within the next few weeks.