Swimwear retailer Tigerlily collapses
Australian swimwear brand Tigerlily, which has seven Queensland stores, has collapsed into administration
Scott Langdon and Jenny Nettleton of KordaMentha Restructuring were today appointed as voluntary administrators of the fashion and swimwear companies Tigerlily Aust Pty Ltd and TL Holdco Pty Ltd.
"The decision to appoint administrators was made after considering the current state of the retail industry, and the COV-ID 19 pandemic significantly inhibiting the day-to-day operations of Tigerlily," the administrators said.
The company has 26 stores nationally and employs 200 workers. It has seven stores in Queensland: Carindale, Chermside, Harbour Town, Noosa, Pacific Fair, Robina and Sunshine Plaza.
Mr Langdon said Tigerlily will trade on a limited basis while the administrators communicated with all stakeholders and executed a sale process for the Tigerlily business.
He said "a sale of business process will commence immediately and we expect a high level of interest in the business given the strong brand and its reputation."
The Tigerlily brand was launched by Jodhi Meares in 2000 while she was married to casino billionaire James Packer.
Ms Meares sold the label to surfwear retailer Billabong for $5.8 million in 2007. Billabong sold it for a reported $60 million to private equity firm Crescent Capital Partners 2017.
Originally published as Swimwear retailer Tigerlily collapses