The administrators of Herringbone and Rhodes & Beckett will sell off luxury stock in a bid to save both brands in Australia and give any potential new owner a clean slate.

The licensee of the upmarket clothing brands in Australia went into voluntary administration in February, and negotiations to sell the businesses are continuing.

Administrator Cor Cordis has decided to slash the prices of all current stock in order to offer a new owner a fresh start.

“We’ve decided that the best way for the brands and businesses to be sold and survive in the long term is for the current inventory to be cleared, paving the way for a purchaser to start fresh with a new product range and offering,” Cor Cordis managing partner Bruno Secatore said.

The administrators said they hope to provide an update on the sale of the businesses shortly.

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