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

 In Australia, Myer, NewZealand
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…

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