Greg Smith: Devon Funds Head of Retail on Australian retailer EziBuy being put into administration - Heather du Plessis-Allan Drive

Bad news for clothing and homewares retailer EziBuy.

The company has been put into administration by its Australian owners - which is likely to be the end of the line for the business.

Owner Mosaic Brands says EziBuy’s sales have fallen 51 percent year-on-year in the first half of the financial year.

Head of retail at Devon Funds, Greg Smith says the business had been starting to decline for some time.

He explained it was profitable during the pandemic for a time, but most businesses that did well through Covid-19 are starting to fall.

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