Australian fashion retailer Cue Clothing Co has entered voluntary administration, placing the future of the Cue and Veronika Maine brands in the hands of administrators and receivers as a sale of the business begins.
The Sydney-based company entered voluntary administration on Tuesday, with directors appointing Duncan Clubb and Shaun McKinnon of BDO as administrators. Separately, lenders appointed Kate Warwick and Vaughan Strawbridge of FTI Consulting as receivers and managers of Cue & Co, Cue NZ and Cue International (NZ).
FTI Consulting said the business would continue trading while its financial position and restructuring options were assessed.
Cue and Veronika Maine operate 51 stores across Australia, including nine…