Australian Fashion Labels has entered voluntary administration and is holding urgent talks with a potential buyer, according to administrator Duff & Phelps.
The fashion house, co-founded by Melanie and Dean Flintoff, operates labels BKNR, Finders Keepers, C/MEO Collective, Keepsake and The Fifth Label.
According to Marcus Ayres, partner at Duff & Phelps, the business employees entitlements and salaries are paid, but it will struggle to continue trading without a deal due to an unrevealed level of debt owed to Bendigo and Adelaide Bank, Tigers Logistics and the Federal Governments Export Finance Australia.
This next 48 hours is critical, were pretty clear what the position is. Were trying to lock down all the key suppliers to allow us …
Read the full article at: https://insideretail.com.au/business/australian-fashion-labels-collapses-holding-urgent-talks-with-potential-buyer-202101
