The boutique that went broke
The Butchery* was one of Melbourne’s top hipster men’s boutiques, managed by a high-profile young designer from a converted butchers’ shop in one of Melbourne’s famous laneways.
The Butchery’s success abruptly ended when its Chinese supplier suddenly went broke.
The Butchery’s manager was taken completely by surprise. He had no idea this was coming and he had no other suppliers. The Butchery closed within a couple of months and the boutique was taken over by a commercial photo gallery.
Training around the strategies and actions a small company needs to implement to secure and diversify its overseas supply source would have helped The Butchery to risk manage its business in this international partnership and stay in business.
There are many other ‘Butcheries’ that go out of business for the same avoidable reasons.
*Name changed for privacy reasons