Celebrity-loved Australian fashion brand Dion Lee is undergoing a mega sale after collapsing into liquidation over $35 million in debt.
The Paddington store in Sydney will close its doors permanently on Sunday 13 October.
Corset tops, trendy pants, quirky sweaters, chic skirts and more have received deep discounts of up to 80 percent and stocks are expected to sell out quickly.
Prices range from $29 for a tank top, which was originally $290, to $398 for a Chunky Cable Sweater, originally $1,990.
An email was sent to loyal customers to alert them of the news and items cannot be returned once purchased.
The high-end line was a favorite of global superstars including Taylor Swift and Dua Lipa and went into voluntary administration in May after a partnership deal collapsed.
On August 29, creditors chose to liquidate the company after not receiving “acceptable” offers to buy the brand.
The announcement came as a shock to fans and the second store in Sydney’s Strand Arcade is also expected to close this month.
The Dion Lee Paddington store in Sydney (pictured) will close its doors permanently on Sunday 13 October.
The announcement came as a shock to fans and the second store in Sydney’s Strand Arcade is also expected to close this month.
Dion Lee went into liquidation in August after a major partnership deal collapsed (pop star Taylor Swift, center, wore a Dion Lee crochet corset to the SuperBowl in February)
Antony Resnick, liquidator of the bankruptcy company dVT Group, was appointed administrator of the brand.
“At the second meeting of creditors it was heard that, although there had been interest from potential buyers of the brand, no acceptable offer had yet been made,” the liquidators said in a statement to news.com.au.
Major clothing brand Cue Clothing Co has reportedly ended its partnership deal with Dion Lee and also canceled its investment in the business. The Australian.
Cue Clothing Co first became a partner in Dion Lee more than a decade ago and the company was also a shareholder in the business.
Corset tops, trendy pants, quirky jumpers, chic skirts and more have been heavily discounted by up to 80 per cent and stock is expected to sell out quickly.
In August, creditors opted to liquidate the business after receiving no “acceptable” offers to buy the brand (pictured, Australian superstars Kylie and Dannii Minogue wearing Dion Lee when performing at the inaugural Sydney World Pride concert in 2024 ).
Daily Mail Australia has contacted Dion Lee for comment.
The business recently found renewed fame after pop star Taylor Swift wore a $650 Dion Lee crochet corset to the Super Bowl while cheering on her boyfriend Travis Kelce.
The clothing brand was founded by eponymous designer Dion Lee in 2009.
Pictured: Internet and TV personality Tully Smyth wearing Dion Lee on the catwalk at the Melbourne Fashion Festival in March.
The clothing brand was founded by Australian fashion designer Dion Lee (pictured) in 2009.
Since then, the company has grown exponentially, with six outlets in Australia and 160 stores around the world, including a store in the United States that opened in December last year.
Lee, 38, also collaborated with Kanye West on a shoe collection and designed clothing worn by pop star Dua Lipa.
Some of the accessories sell for up to 990 Australian dollars.
