Here’s news worse than smudged eyeliner. Napoleon Perdis’ makeup empire has collapsed, with the retail cosmetics chain today put up for sale.
Administrators have now been called in to try and find a buyer for the company, which has 56 stores around Australia. It’s understood the company has more than 600 employees – their futures with the company are now uncertain.
The stores are currently closed, but will reportedly reopen on Friday, with stock expected to go on sale. At least, that’s a win for customers.
Although the company, owned by Napoleon Perdis, 46, his wife Soula Marie Perdis and his brother Emanuel Perdis, had been facing financial difficulties in recent times, it’s thought the arrival of French giant, Sephora was the final blow for the company.
In a statement released by the administrators, Napoleon Perdis said the brand was “still in high demand from our customers”.
“My family and I are 100 per cent committed to achieving the best outcome for all stakeholders,” he said.
“We are fortunate that throughout our business, we have staff and teams who have not only underpinned the business success, but who are our extended family.
“Their unwavering contribution will undoubtedly pave the way for the successful and strategic trade on. As we work towards our goals, we ask customers, suppliers and other interested parties to continue with their valued support of the brand.”