Retail continues to decline with hundreds continuing to shut down.

An Adelaide bridal store has collapsed – and Aussie brides are cashing in with gowns now on offer for thousands of dollars off the usual price tag.

Romeo Investments (Aust) Pty Ltd, trading under Bridal on Pulteney, has entered liquidation after a recent sales slump, and as a result, remaining stock will be auctioned off.

The closure means couples set to tie the knot can score a wedding gown for a song, with some dresses starting as low as $15.

The store, located at 22 Pulteney Street in Adelaide, folded after racking up debts.

Before the collapse, it touted itself as “a multi-award winning Adelaide bridal store, with multi-award winning designers” that offered “a truly special experience to our brides”.

Stephen James from BCR Advisory has been appointed liquidator of the store’s parent company on February 17, and he told news.com.au the business had now ceased trading.

“As a result of declining sales and deteriorating cash flow, the directors were left with no alternative but to appoint a liquidator,” Mr James said.

“As liquidators, we have placed a high priority on notifying customers of the situation, so that wedding dresses can be collected and solutions found for unfulfilled orders.

“There are approximately 70 brides-to-be that have been affected. Staff of the business have assisted us with this process.”

Mr James said liquidators were now involved with “selling the assets of the company that primarily comprises wedding dresses and accessories, together with notifying creditors of the liquidation.”

The dresses will be auctioned off through Evans Clarke, and general manager Andrew Monks told news.com.au it was an “incredible opportunity” for brides-to-be.

The auction closes at 6.30pm on Tuesday, March 3 although an in-store inspection is currently underway until 3pm today, with change room facilities available.

Mr Monks said the inspection was pulling in the crowds with “lines out the door” as scores of people rush to view the dresses in person.

“It’s just a great opportunity for people who have got their special day coming up to save some money on what would be a large component of the cost,” he said.

“You can get something exquisite at auction prices instead of retail, so the money can be put towards the wedding itself or the honeymoon.

“Some dresses were retailing at $4000 or more and some are starting at $15 so the opportunity is immense.”

Mr Monks said the auction had attracted interest from punters right across Australia, including individuals and retailers keen to bag a bargain.

Purchases must be collected in person by 3pm on Thursday, March 5, and items not collected will be forfeited.

There are scores of wedding dresses available along with bridesmaid’s gowns, flower girl dresses and bridal accessories such as jewellery and belts.

The dresses come in a variety of sizes and styles and some have already attracted dozens of bids, pushing up the starting price.

The browse the dresses click here.

RETAIL WOES

The announcement comes hot on the heels of a slew of other high-profile Australian businesses that have folded in 2020.

It started early on January 7 when it was revealed department store Harris Scarfe was set to shut 21 stores across five states over the course of just one month after the retailer was placed in receivership in December.

Just days later, McWilliam’s Wines – the country’s sixth-largest wine company that has been run by the same family for more than 140 years – announced it had also appointed voluntary administrators.

Then it was popular video game chain EB Games’ turn, with the business confirming it was closing at least 19 stores across the country within weeks, while fashion chain Bardot is also planning to shutter 58 stores across the nation by March.

In January it also emerged Curious Planet – the educational retailer previously known as Australian Geographic, which is owned by parent company Co-op Bookshop – would pull 63 stores across Australia after failing to find a buyer for the brand, while denim chain Jeanswest entered voluntary administration that month and tech giant Bose also revealed it would close all Australian stores and 119 across the globe largely as a result of the rise of online shopping.

This year German supermarket Kaufland also pulled out of Australia before it had even begun, investing millions into the expansion before making a hasty exit this year to focus on its European offerings.

And handbags and accessories chain Colette by Colette Hayman was also placed into voluntary administration in late January, leaving 300 jobs and 140 stores in the lurch, while furniture, homewares and handicrafts store Ishka also collapsed in February.

2020s dismal first fortnight for retail follows a horror 2019 that brought the collapse of a slew of Aussie businesses, with some international players also folding in recent months.

Last January, menswear retailer Ed Harry went into voluntary administration, and a week later, Aussie sportswear favourite Skins also revealed it was on the brink of failure after applying for bankruptcy in a Swiss court.

At the end of the month, the Napoleon Perdis beauty empire appointed administrators although it was saved from liquidation by KUBA Investments three months later.

Footwear trailblazer Shoes of Prey also met its demise in March last year along with British fashion giant Karen Millen, which in September revealed it would soon shut all Aussie stores, leaving around 80 jobs in peril.

In October, celebrity chef Shannon Bennett’s Melbourne burger chain Benny Burger was also placed into administration, followed by seven Red Rooster outlets in Queensland just days later and then Aussie activewear sensation Stylerunner, which has since been sold to Accent Group Limited.

In November, it was revealed that popular furniture and homewares company Zanui was in trouble after it abruptly entered voluntary administration, leaving angry customers in the lurch.

Later that month, Muscle Coach, a leading fitness company, was put into voluntary administration after a director received a devastating diagnosis and the company racked up debts of almost $1 million.

Then it was the famous Criniti’s restaurant chain’s turn to enter into voluntary administration, with several of the 13 sites across the country set to close for good. It was closely followed by discount legend Dimmeys.

Leading Australian fashion designer Alex Perry closed his only bricks and mortar store in Sydney’s Strand Arcade in February, announcing he will focus solely on online.