A popular Australian women’s activewear company has gone bust, owing $13m to creditors.
Founded in 2014 by Leilani Chandler in Noosa, Exoticathletica is best known for its size-inclusive, vibrant and bright activewear and quickly became a popular choice for women across the country.
However, the brand filed for voluntary administration on April 9, turning to insolvency firm SV Partners Terry van der Velde and Matthew Hudson to search for potential buyers while they comb through the financial debris.
Commonwealth Bank – the secured creditor for the business – is owed $6.7m, while the brand owes unsecured creditors more than $6.2m.
This includes $211,000 to manufacturers Active Apparel Group, $311,000 to Andorra Australia, $447,000 to…
