Myer’s rescue of Marcs, David Lawrence unlikely to go without job cuts

Myer has rescued troubled fashion brands David Lawrence and Marcs, buying them out of administration in a deal that looks likely to cost jobs at both high-profile fashion labels.
Staff from both brands were informed that the department store owner had bought the operations from parent company M Webster Holdings on Thursday morning.
Marcs and David Lawrence slipped into administration in  February, weighed down by more than $30 million in debt, including $12 million owed to their owner and major creditor Malcolm Webster. Sydney Morning Herald – Read more…