Agent Provocateur to shutter all Australian stores

London - It seems as if fears concerning the future of Agent Provocateur may prove to be true, as the luxury lingerie retailer is set to shutter all of its Australia stores. 3 of Agent Provocateur current retail locations in Australia have already closed, as the last location is set to close its doors as soon as all its stock has been sold.

Agent Provocateur previously operate four retail locations Australia - two in Sydney in department store David Jones and shopping centre Westfield and two Melbourne, in Little Collins Street and department store David Jones.

Agent Provocateur shuts all stores in Australia

However following the British lingerie retailer fall into administration and subsequent sale last month, the brand is set to wind down its Australian business. A spokesman from KordaMentha, who were previously appointed administrators, confirmed all locations have been shut except for Agent Provocateur store in Westfield, Sydney.

Mike Smith revealed to News Corp Australia the last store was in the process of selling all of its remaining stock and would shut once it was sold, or by mid-May, as Agent Provocateur's new owners are set to focus on the European market. Agent Provocateur will retain an online presence in Australia, through its international website.

The store closure affects a total of 20 employees in Australia, with 15 workers holding a full-time contract. Prior to the Agent Provocateur pre-pack administration sale, the lingerie retailer achieved an annual turnover of between 5 and 10 million dollars, added Smith.

The move comes barely a month after the struggling British retailer was sold by former owners 3i in a controversial pre-pack administration deal to Four Holdings Limited, in which Sports Directs holds a 25 percent stake in. The deal saw Four Holdings acquire the brand's UK division and Agent Provocateur global branding rights, but not its international portfolio, leaving 100 retail outlets at risk.

Co-founder of Agent Provocateur, Joe Corré, previously called the sale “a disgrace to British business” and a “phenomenal stitch up”. He accused 3i of turning down a larger and better offer which would have protected both Agent Provocateur's employees and creditors for a deal which would let Mike Ashley, owner of Sports Direct, "pick at the carcass" of the lingerie retailer.

Since the sale Sports Direct has issued a statement clarifying it is not the new owner of Agent Provocateur, stressing it owns a 25 percent stake in Four Holdings, parent company of fashion agency Four Marketing.

Photos: Agent Provocateur SS17 Lookbook, website