An Australian fashion retailer has gone into voluntary administration, leaving an uncertain future for staff at more than 50 stores.
Sydney-based fashion business Cue Clothing Co, which operates women’s labels Cue and Veronika Maine, was founded in 1968.
It was handed over on Tuesday to voluntary administrators Duncan Clubb and Shaun McKinnon of accounting company BDO, with Kate Warwick and Vaughan Strawbridge of FTI Consulting appointed as receivers.
The two labels have a combined total of 51 stores across Australia.
The companies’ clothes are also sold in department stores Myer and David Jones at dozens of locations.
In a statement, FTI Consulting said the company had been overwhelmed by overhead costs.
This was despite an increase in…