Collapsed Australian activewear brand Stax owed over $1.7 million in outstanding orders to almost 13,000 customers before appointing liquidators earlier this month, financial records show.
The embattled company was placed into receivership in June, just four years after its founders were named on the AFR Rich List, and collapsed into liquidation as it urgently seeks a buyer.
Stax owed over $1.7 million in outstanding orders. Nicole Douglas
Brian Silvia and Michael Hird of Cascap Advisory were appointed joint liquidators for the embattled brand and its entities, including Stax Retail, Stax GPT and Stax Westfield, on July 10.
In a report to creditors lodged on Friday, the liquidators stated that 11,182 customers are still awaiting…