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A major Australian fashion company with celebrity fans including Hailey Baldwin has gone into voluntary administration, putting the jobs of its 400 employees at risk.
Marquee Retail Group (MRG), owner of accessories brands Colette by Colette Hayman and The Daily Edited, has appointed administrator after failing to save the brands from collapse.
An MRG spokesperson said the company plans to keep its 60 stores open, not reduce staff and continue operating after selling all or part of the business.
Colette Hayman’s Colette entered administration in 2020 before being bought by former Myer chief executive Bernie Brookes.
The Daily Edited, a luxury fashion brand loved by wealthy Australians, went into liquidation in October 2022 after a high-profile dispute between its co-founders Alyce Tran and Tania Liu.
A major Australian fashion company has entered voluntary administration but hopes to keep all its stores open and not lose any of its 400 employees. One of their brands is Colette by Colette Hayman (model pictured)
The Daily Edited, a luxury fashion brand (model pictured) loved by wealthy Australians, went into liquidation in October 2022.
They launched The Daily Edited in 2014 after meeting three years earlier while working at a Perth law firm, turning it into a $25 million fashion powerhouse with stores in Sydney and New York in addition to its online offering.
Several famous faces have worked with the brand in the past.
Hailey Baldwin collaborated with The Daily Edited in 2016, promoting a collection called #theHAILEYedited.
In 2017, movie star Sylvester Stallone’s daughters Sistine, Sophia and Scarlet appeared in the #MeetTheStallones campaign promoting a new collection.
But the beginning of the end came after Liu launched legal action against her business partner in the New South Wales Supreme Court in December 2019, alleging that Tran spent thousands of dollars of the company’s money on herself, in breach of her duties as director of the company.
Tran denied the allegations before selling his 50 percent stake in the company in May 2021.
Terms of the sale were not disclosed, but it ended their legal battle.
MRG was formed in 2023 after Brookes bought The Daily Edited in 2022.
The company had been hit by the cost of living crisis in Australia, leading to a drop in sales over the past six months, which it blamed on rising interest rates and inflation.
It is also in debt to the Australian Taxation Office, which contributed to it going into administration. The process will be managed by the bankruptcy company Mackay Goodwin.
Brookes said the company expects to operate as normal while it is in administration.
“Our decision today is aimed at securing the future of Marquee Retail Group and its employees, as we emerge on the other side of voluntary administration,” he said.
“We look forward to working with all parties to ensure an outcome, whether with a sale or a company deed agreement recommended in a timely manner by the Administrator.”
He added that ‘the Board of Directors regrets that these events have occurred and thanks all the Group’s collaborators for their hard work and contribution.’
Phoebe Burgess poses for a mirror selfie with a phone case from The Daily Edited
Alyce Tran (right) and Tania Liu (left) launched The Daily Edited in 2014 after meeting three years earlier while working at a Perth law firm.
Colette Hayman’s Colette (pictured) went into administration in 2020 before being bought by former Myer chief executive Bernie Brookes.