Creditors line up after fashion retailer’s collapse: Dion Lee, Ellery and Mercedes-Benz Fashion Week all owed cash
Thursday, January 23, 2014/
Online fashion retailer Jasu has left some high profile creditors in its wake following its liquidation just before Christmas last year.
Jasu launched with a bang in 2012 featuring fashion from Australian designers including Dion Lee, Ellery, Josh Goot and Romance was Born.
At a time when many retailers were struggling to attract customers, Jasu actively restricted its customer base by limiting access to its website to customers based on their Klout score for the first 10 days. A Klout score is a social media influence ranking.
In an industry first Jasu.com also partnered with Mercedes-Benz Fashion Week Australia to live stream the event last year.
But on December 16, 2013 Jasu ceased trading and Gregory Andrews of G S Andrews Advisory was appointed as liquidator of the online fashion retailer.
Jasu owes unsecured creditors a total of $490,301.33, with the largest amount ($300,000) owed to private creditor and Jasu director Wenfei Yang, according to a list of creditors obtained by SmartCompany.
International Management Group, the company responsible for Mercedes-Benz Fashion Week Australia was the second largest creditor, owed $45,125.
Many well-known Australian designers were burnt by the collapse, with Toni Maticevski owed $5176, Dion Lee owed $3874, Romance Was Born owed $1741, Ellery owed $545, Christopher Esber owed $704, Bec & Bridge owed $1143 and Rebecca Vallance owed $1167.
The Australian Taxation Office has also claimed a debt of $39,824 for services rendered by its Insolvency Team.
Jasu’s three employees are owed $69,594 collectively for lost wages and compensation for holiday pay, redundancy pay and superannuation.
SmartCompany attempted to contact Jasu, but the online retailer’s website has been taken down and emails bounce back.
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