Decades-old fashion retailer Glue Store is closing its doors.<\/p>\n
Its remaining shops will shut across Australia, after the business was deemed \u201cunprofitable\u201d by parent company Accent Group.<\/p>\n
Accent Group, which operates stores such as Dr. Martens, The Athlete\u2019s Foot and Platypus, acquired Glue Store in 2021.<\/p>\n
Know the news with the 7NEWS app: Download today Arrow<\/a><\/p>\n Within three years it had roughly halved the number of stores in Australia, axing 17 in 2024.<\/p>\n The remaining stores were \u201cexpected to be profitable\u201d, Accent Group said at the time.<\/p>\n But those 16 stores will be closed by the end of the 2026 financial year, an ASX announcement confirmed on Wednesday.<\/p>\n \u201cThe company has made the decision to cease the operations of Glue Store,\u201d Accent Group said.<\/p>\n \u201cThe business will be wound down or sold.\u201d<\/p>\n Closing down sales are now being advertised online and in various Glue Stores.<\/p>\n Glue Store recorded an EBIT (Earnings Before Interest and Taxes) loss of $8.4 million in the first half of the 2026 financial year, inclusive of provisions set aside for closure.<\/p>\n Accent Group will pivot its focus to the expansion of other more successful brands under its portfolio.<\/p>\n The group currently has 898 stores across brands, with 27 of those newly opened in the last six months.<\/p>\n 7NEWS.com.au has contacted Accent Group for comment.<\/p>\n