Australian fashion brand Cue Clothing falls into receivership
Sydney-based fashion business Cue Clothing Co entered receivership on Tuesday afternoon.
In a statement, FTI Consulting, appointed as receivers and managers for Cue, said increased sales and other improvements across the group were not enough to offset the overhead costs.
The company, which was founded in 1968 and operates Cue and its sister brand Veronika Maine, will continue trading while the receivers assess the business and restructuring options.
Cue’s store locator map shows 69 stores across Australia, including a retail presence in David Jones, Myer and DFO.
A sale process seeking offers for the business would “commence immediately” to secure the future of the brands, according to FTI Consulting.
Duncan Clubb and Shaun McKinnon of BDO were appointed as voluntary administrators on the same day.
It is unclear at this stage whether there will be any job losses due to the company’s receivership.
