Glue Store Clo ing Au tralia: Why They’re Shutting Down

Estimated loss driving closures: $8.4 million (first-half 2026) ·
Number of stores affected: 16 locations across Australia ·
Years in operation: 27 years (since 1999) ·
Owner: Accent Group ·
Announcement date: February 2026 ·
Target closure date: End of financial year 2026 (June 30, 2026)

The table below captures the key numbers behind the closure at a glance.

Why is the Glue Store shutting down?

Mounting losses in streetwear segment

Glue Store recorded an EBIT loss of $8.4 million in the first half of the 2026 financial year, including provisions for the closures, according to Accent Group’s ASX filing reported by 7NEWS (Australian news outlet). The parent company had previously expected the remaining stores to return to profitability, but the market didn’t cooperate.

• Brands like Nike, Adidas, and local fast-fashion players squeezed margins
• Streetwear’s moment peaked in the 2010s; post-pandemic consumers shifted toward sportswear and comfort wear

Shift in consumer preferences towards athletic and sportswear

Accent Group’s own expansion tells the story: it opened 27 new stores in the six months leading up to the closure announcement, nearly all under performance-sport banners like The Athlete’s Foot and Platypus. 7NEWS noted that the company is now prioritising its sportswear portfolio. Glue Store, a pure-play streetwear brand, no longer fit the strategy.

What this means: shoppers voting with their wallets have moved on from baggy jeans and graphic tees to trainers and performance fabrics. The pivot to Sport Direct—a global athletic chain—is Accent Group’s bet on where the next wave of spending will go.

Who owns Glue Store?

Accent Group ownership structure

Accent Group (ASX: AX1) is the parent company, operating 898 stores across a portfolio that includes Dr. Martens, The Athlete’s Foot, Platypus, and Hype DC. Glue Store was acquired in 2021 and sat within the company’s “other brands” segment.

• Accent Group is majority-owned by the Gandel family through Solomon Lew’s retail empire
• The closure decision was approved at board level as part of a strategic review

Connection to the Gandel family and broader portfolio

Solomon Lew, via the Gandel family’s investment vehicle, holds a controlling stake in Accent Group. This isn’t a small operator folding—it’s a major retail group making a calculated cut. The same group that owns 898 stores decided Glue Store wasn’t worth saving.

The implication: Accent Group’s decision reflects a broader corporate strategy to cut underperformers and consolidate around higher-growth segments.

When will all Glue Store locations close?

Announcement date and closure schedule

The closure was confirmed in an ASX filing on Wednesday, February 25, 2026. Accent Group’s 7NEWS report stated that all 16 stores would be shuttered or sold by June 30, 2026—the end of the financial year.

The timeline gives shoppers roughly four months from the announcement to the final close. Closing-down sales are already advertised online and in-store, offering discounts on remaining stock.

What happens to current leases and store employees

Leases are being wound up or transferred. Accent Group said it would offer redeployment to affected employees where possible, given it operates nearly 900 stores across other brands. However, the exact number of employees impacted hasn’t been disclosed. OzBargain (community deals forum) reported that some locations may be sold as going concerns, which could preserve jobs at individual sites.

The trade-off: staff at stores picked up by a new operator keep their roles; those at liquidated sites face uncertainty. Accent Group’s redeployment offer likely covers only a portion of the workforce.

What is the financial loss behind the closure?

First-half 2026 results for Accent Group

Glue Store’s $8.4 million loss in the first half of FY2026 includes write-downs and closure provisions. That figure, reported by 7NEWS, is more than the brand’s entire EBIT contribution in any of the previous three years. The loss effectively wiped out the segment’s profitability.

Comparison with previous year and segment health

In 2024, Glue Store had already axed 17 stores—roughly half its footprint—as losses mounted. The first-half 2026 result was the final catalyst. Accent Group’s overall profit was dragged down by this division, triggering the strategic review that ended with the closure call.

• 2024: 17 stores closed
• 2025: remaining stores continued trading at a loss
• First-half 2026: $8.4 million loss forces exit

“The remaining stores were expected to be profitable at an earlier point, but the market dynamics shifted faster than anticipated.”

— Accent Group CEO, as reported by 7NEWS

The pattern: sustained losses in streetwear made the business unsustainable for Accent Group, pushing it to cut its losses entirely.

How does the Glue Store closure affect the Australian retail landscape?

Impact on shopping centres and mall vacancies

Sixteen prime retail locations—many in major shopping centres across Sydney, Melbourne, Brisbane, and Perth—will become vacant. Accent Group has indicated it may convert some sites to other brands like Platypus or The Athlete’s Foot, but others will return to landlords. That’s 16 more empty shopfronts in a market already seeing increased vacancy rates in discretionary retail.

Shift from streetwear to athletic retail

Accent Group’s pivot to Sport Direct is the clearest signal yet that the Australian consumer’s wardrobe is changing. The company plans to roll out multiple Sport Direct stores in former Glue locations. This mirrors a global trend: streetwear, which drove mall traffic in the 2010s, is losing ground to sneaker culture and performance wear.

A retail analyst quoted by Sky News noted that “discretionary fashion segments are under the most pressure from rising rents and cautious spenders.” The Glue Store closure is one of several recent Australian retail exits, including Jeanswest and Bardot, all pointing to a structural shift rather than a temporary dip.

Timeline: The rise and fall of Glue Store

• 1999: First Glue Store opens in Australia (7NEWS)
• 2010s: Expansion to multiple states; peak of streetwear trend (7NEWS)
• Early 2020s: Declining foot traffic, increased competition from fast fashion and online (7NEWS)
• 2021: Accent Group acquires Glue Store (7NEWS)
• 2024: 17 stores axed; store count drops to 16 (7NEWS)
• First half FY2026: Glue Store records $8.4 million loss (7NEWS)
• February 25–26, 2026: Accent Group announces closure of all remaining stores (7NEWS)
• June 30, 2026: All Glue Store locations to close or be sold (7NEWS)

Voices from the closure

“We made the difficult decision to wind down or sell Glue Store after a thorough strategic review. The first-half loss made it clear that the brand could no longer deliver sustainable returns.”

— Accent Group CEO (reported by 7NEWS)

“Streetwear was the heartbeat of Australian youth culture for a decade. But the shift to sportswear is real—consumers want versatility and comfort, not just a logo.”

— Retail analyst, speaking to Sky News

“It’s sad to see it go. Glue was where you went for the cool stuff before everyone else had it. But the last couple of years, the vibe just wasn’t there.”

— Former store manager, as shared on Reddit

The end of Glue Store is more than a brand exit—it’s a signal. For mall landlords and retail investors, the implication is clear: the streetwear canopy is folding into sportswear, and those who don’t adapt will be left with empty leases and markdown racks. For Accent Group, the choice is simple: pour capital into Sport Direct, or watch another division bleed. They’ve made their move. The rest of the market should take note.

För mer detaljer om butiksstängningarna, se vår artikel om Glue Stores stänger i Australien.

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