(Filed Under Financial and General Interest News). Prominent Australian lingerie chain Bras N Things is considering cutting staff as the retail climate and trading conditions fail to improve.
According to a report submitted to Australia’s Productivity Commission, Bras N Things Chief Financial Officer Gary Jenkins warned that the lingerie retailer could join the ranks of other Australian and international chains and have to close stores if the federal government does not have a hand in restructuring the retail industry.
Earlier in 2011, Bras N Things was in talks regarding an initial public offering or trade sale, but discussions ceased due to the state of the economy, particularly the retail sector.
Bras N Things was founded in 1995 and sells lingerie, sleepwear, activewear, hosiery and accessories. The company is based in Milperra, Australia and operates as a subsidiary of Brazin Ltd.
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