Clothing retailer Esprit is closing all of its Australian stores, forcing 350 people out of work.
The American fashion company has been selling clothes in Australia for more than 30 years.
Executive director Thomas Tang said the brand had been unprofitable in Australia and made the 'unfortunate but unavoidable' decision to pull out of the market.
It has 67 outlets across Australia and New Zealand, and will continue to operate in more than 40 other countries.
Clothing retailer Esprit is closing all of its Australian stores, forcing 350 people out of work
'In order to strengthen our foundation, the group intends to withdraw from these markets and this will allow us