Luggage and handbag chains, Victoria Station (43 stores), and Kate Hill (21 stores), have called in administrators as their parent company Victoria Station Corporation thought it was, or will become, insolvent.
Victoria Station sells well known luggage brands, manufactures its own products, and operates stores in 5 Australian states.
The news follows a report out of America that so far this year more retailers have closed than for the whole of 2016.
QVM Gets $29m More From City - As part of its overall investment in QVM (up to $250m) the City of Melbourne has allocated another $29m on QVM expenditure in its 2017/18 budget released last week.
The budget shows a decrease in "other income" which is mainly due to lower returns from subsidiaries including rental income from QVM being re-directed towards a QVM Business Continuity Program.