A popular Australian activewear retailer has collapsed owing $1.7m to 13,000 Australians, new documents have revealed.
Activewear brand Stax collapsed in June and entered voluntary administration on July 10, with Brian Silvia and Michael Hird of Cascap Advisory as joint liquidators.
New documents have revealed Stax owes $1,713,986 owed to 12,927 customers, made up of 11,182 unfulfilled orders owing a total of $1,405,723 and 1745 partially incomplete orders worth $308,263.
The liquidators will now determine how many customers will receive their orders from available stock.
“The next two weeks will crystallise the possibility of a positive outcome on this issue,” the liquidator’s report read.
There is about $1.184m worth of stock…