Major update after Australian swimwear brand Tigerlily collapses for the second time in four years

Creditors of a popular Australian swimwear brand that has fallen into administration for the second time in four years will meet next week.

Tigerlily Swimwear appointed administrators Glenn Franklin and Jason Stone of PKF on March 4.

The brand was founded in 2000 in Sydney by Jodhi Meares, a model and ex-wife of media and gaming billionaire James Packer.

According to an ASIC notice on Wednesday, the company’s creditors are expected to meet for a second time next Thursday, having met once on March 15.

The objective of the meeting is to decide the future of the business.

Tigerlily was bought by Sydney private equity firm Crescent Capital in 2017 from struggling Billabong for $60 million.

The brand’s previous collapse into voluntary administration was handled by KordaMentha in 2020 after the Covid pandemic hit retail sales.

Travel restrictions combined with a drop in foot traffic hit the brand hard.

Despite emerging from that setback, Crescent hired Deloitte to find a buyer for Tigerlily last year, but was unsuccessful.

Tigerlily had recently attempted to expand its range from its roots of printed bikinis and dresses to bohemian-inspired knitwear, boots and even candles.

The brand has around 10 boutique stores in Australia and around 40 global wholesale partners.

Early last year, it made a focused push into the US e-commerce space in an effort to balance Australia’s falling winter sales with the US summer season.