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Australian luxury fashion retailer Harrolds fell into liquidation in October, burdened with debts exceeding $12 million. The company, which comprises four entities under the Harrolds Group, faced overwhelming challenges in the current economic climate following the pandemic. A statement from liquidator SMB Advisory attributed the downturn to the tough post-pandemic market conditions. Established nearly four decades ago, Harrolds was known for its physical stores in major cities like Melbourne and Sydney, in addition to having launched an online shopping platform in recent years.