Seven Nike stores across sydney have closed, and as many as 115 workers have lost their jobs after major franchisee AF1 Pty Ltd collapsed into liquidation.
Nike-branded outposts in Sydney’s central Pitt Street, Bondi Junction, Neutral Bay, Burwood, Warringah, Chatswood and Castle Hill are closed, after AF1 on Friday appointed John Morgan of BCR Advisory to serve as liquidator.
The sportswear giant has pulled its licensing agreement with AF1, a Nike spokesperson told SmartCompany.
Its other retail outlets across Sydney and wider NSW are unaffected by the liquidation.
“We have appreciated the partnership and look forward to continuing to serve consumers through our growing fleet of Nike stores, multi-brand retail partners, and nike.com,” the spokesperson said.
Smarter business news. Straight to your inbox.
For startup founders, small businesses and leaders. Build sharper instincts and better strategy by learning from Australia’s smartest business minds. Sign up for free.
…