The future of Millers, Katies, Crossroads, Autograph, City Chic, and Rivers stores across the Border are in doubt after their parent company announced they would close 300 under-performing outlets.
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Specialty Fashion Group, which owns the brands, have not announced which of it’s 1000 plus outlets would be affected.
The announcement follows a shareholder revolt during the annual meeting on Tuesday.
A majority of shareholders (51 per cent) voted against the group's remuneration report at its annual meeting on Tuesday - twice the amount required to register a "first strike" that will put the board at risk of being spilt if there is a protest vote again next year.
And 34 per cent of shareholders voted against the re-election of director Michael Hardwick, who is chief financial officer at fellow retailer Cotton On.
Cotton On founder Nigel Austin's private company NAAR is Specialty's biggest shareholder with 20.2 per cent of the group's stock, while Specialty's chief executive Gary Perlstein owns another 9.3 per cent and company co-founder Iam Miller holds another 8.7 per cent.
Top managers at the company, which owns Millers, Katies, Autograph, Crossroads, City Chic and Rivers, received none of their cash bonuses in 2017.
The protest vote comes after Specialty Fashion ran at an after-tax loss of $8.8 million last year, a $2.1 million loss in 2016 and a $4.4 million loss in 2015.
Specialty also issued a profit warning last month, citing difficult market conditions in the first quarter that would see underlying earnings in the first half fall from $30 million last year to between $14 million and $17 million.