Tuesday, June 18, 2024

Aussie fashion brand Dion Lee placed in voluntary administration

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Source: Facebook/ Dion Lee.

The Australian business of unisex fashion brand Dion Lee has been placed into voluntary administration, with the company’s financial status remaining undisclosed.

The brand has appointed DVT Group as voluntary administrators for its Australian-based operations. Administrator Antony Resnick and his team are working to assess all options regarding the company’s US business.

“We are in the very early stages of our administration process, and our focus right now is on speaking with the Australian and US-based teams and getting across all the relevant operational and financial data,” said Resnick.

He added that it is still “too early” to comment on the details of the company’s financial position. The administrators are planning to operate the brand as a going concern at this time.

Founded in 2009 by then-Sydney-based designer Dion Lee, it has six stores in Australia, one in the US, and is sold through 160 outlets globally.

Resnick believed the brand would attract both local and international investor interest thanks to its unique designs and global recognition and credibility in the high fashion industry.

A full creditors report is being prepared, and a creditors meeting will take place in the coming weeks.

This article was first published by Inside Retail.

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