The carnage of the last fortnight follows the collapse of kids clothing chain Pumpkin Patch as well as Payless Shoes at the end of last year. It's sharpened the focus on Australia's mid-market fashion chains and the immense challenges facing this broad swathe of the retail market.
The storm clouds that gathered over Australia's apparel sector in the past 12 months weren't just the result of the unpredictable weather conditions.
Winter arrived late on the eastern seaboard and then the chilly start to spring forced fashion retailers to cut prices again to move stock.
International fast-fashion superstars like Zara and H&M have taken hundreds of millions of dollars in sales out Australia's apparel sector, leaving long-established brands subsisting on the thinnest of margins and vulnerable to even minor shifts in spending.
JP Morgan analyst Shaun Cousins said the globalisation of Australian retail was most apparent in apparel and it had left domestic chains vulnerable to even relatively small market fluctuations.
Zara's sales in Australia have retreated from their initial "elevated levels", according to Macquarie Wealth Management, but along with Japanese giant Uniqlo and H&M these three brands captured $600 million in Australian apparel sales last year.
Macquarie reports that margins are under pressure at all three of the international chains, but they're still driving sales growth through new store openings and squeezing domestic chains out of the market.
