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 Market revenge: OZschwitz labels crumbled despite getting big taxpayer handouts

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RR Phantom

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Market revenge: OZschwitz labels crumbled despite getting big taxpayer handouts Vide
PostSubject: Market revenge: OZschwitz labels crumbled despite getting big taxpayer handouts   Market revenge: OZschwitz labels crumbled despite getting big taxpayer handouts Icon_minitimeMon May 27, 2013 2:46 am
The fashion industry's latest high-profile victim Lisa Ho pocketed nearly $200,000 in taxpayer subsidies before collapsing and jeans queen Bettina Liano was given $300,000 in innovation grants after going into voluntary administration, records show.

Market revenge: OZschwitz labels crumbled despite getting big taxpayer handouts Art533216625620x349



Another well-known women's fashion chain, Ojay, took $20,000 in government handouts just months before its financial woes tipped it into administration in September.

The taxpayer subsidies were part of a six-year $112.5 million federal government program to ''drive innovation and renewal'' in the textile and clothing industry.

Read more: http://www.smh.com.au/business/labels-crumbled-despite-getting-big-taxpayer-handouts-20130526-2n5cr.html#ixzz2UTOBVmKX
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Market revenge: OZschwitz labels crumbled despite getting big taxpayer handouts

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