Betts, the iconic footwear retailer founded in Fremantle 134 years ago, is dramatically retreating from its home state, shutting seven of its 11 Western Australian stores as part of a nationwide overhaul. The closures leave just four outlets operating in WA, where the business first began in 1892.
Nationwide Closures and Administration
The family-owned chain has called in voluntary administrators from Pitcher Partners to oversee the closure of 20 of its remaining 35 stores across Australia. At its peak, Betts operated almost 220 stores nationwide. The company has not revealed which WA stores will close, but its current network includes outlets at Booragoon, Carousel, DFO Perth, Joondalup, Karrinyup, Midland, Rockingham, Mandurah, Bunbury, Geraldton and Albany.
Not a Collapse, but a Streamlining
Despite the closures, the retailer is not collapsing. The administration process is designed to fast-track the closure of loss-making stores while the remainder of the business continues trading and shifts its focus online. Pitcher Partners administrator Lindsay Bainbridge said Betts was being reshaped for the future. “Australians grew up with Betts shoes, they know and love the brand, and we believe it has a strong outlook as a more streamlined operation,” he said.
Clearance Sales and Stock Reduction
More than 120,000 pairs of shoes, bags and accessories will go on sale from Friday as administrators attempt to clear stock, with the biggest bargains expected at stores earmarked for closure. The company has overhauled its branding, redesigned stores, narrowed its product range and shifted its focus almost entirely to women’s fashion footwear as it attempts to return to profitability.
Declining Foot Traffic and Online Shift
Mr. Bainbridge said declining foot traffic in shopping centres had become unsustainable, with the company instead focusing on its strongest stores and expanding its online business. “Betts has been a staple for 134 years and we want a result that ensures the brand can thrive for many years to come,” he said. Founded in Fremantle in 1892, Betts has grown into one of Australia’s oldest footwear retailers, surviving world wars, recessions and changing fashion trends before embarking on a major reinvention over the past year.
