Australian fashion brand Metalicus enters voluntary administration
Thursday, May 10, 2018/
Australian fashion brand Metalicus has entered voluntary administration and will today begin a major sale across all of its outlets.
In an email to customers on Wednesday evening, the company acknowledged the “difficult period for our staff and customers”, as it explained plans to launch a sale event at all of its flagship stores, Myer concession outlets and online, starting Friday.
“Metalicus has long been recognised as an iconic Australian fashion brand and we would like to take this opportunity to thank our customers for their ongoing loyalty and support over the years,” the company said.
Metalicus said the sale event will involve “significant savings on all pieces”. “We hope that you will take advantage of the opportunity to enjoy some great savings across our entire range,” it told customers.
According to a notice published with the Australian Securities and Investments Commission, administrators Petr Vrsecky, Stirling Home and Jason Stone from PKF Melbourne were appointed to Fashioniod Pty Ltd, trading as Metalicus, on May 2. The first meeting of creditors is scheduled to be held in Melbourne on May 14.
Metalicus was founded in 1992 and previously formed part of PAS Group, which is home to a range of other clothing brands, including Yarra Trail, Black Pepper and Review.
PAS Group sold Metalicus to General Pants Group in mid-2016, saying at the time that it wanted to focus on its core group of brands.
At the time, Metalicus had three stand-alone retail stores, around 12 Myer concession outlets, approximately 185 wholesale accounts and an online store, according to The Australian. In 2016, the brand was recording around $25 million in sales, but had encountered challenges in a “toughened” market.
SmartCompany has contacted PKF Melbourne for further information.