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Popular Australian swimwear brand Tigerlily Swimwear has fallen into administration once again.
It is the second time in four years that the problematic label has collapsed.
A notice published on ASIC on Tuesday revealed that external administrators had been appointed to the company.
The brand was founded in 2000 in Sydney by Jodhi Meares, a model and ex-wife of media and gaming billionaire James Packer.
It was then sold to Billabong in 2007 for $5.8 million.
The brand’s previous collapse into voluntary administration was handled by KordaMentha in 2020 after the Covid pandemic hit retail sales.
Australian retailer Crumpler then bought the swimwear brand.
“Crumpler and Tigerlily remain separate businesses with separate identities and aesthetics, as well as individual design, marketing and customer service teams,” Crumpler CEO Adam Wilkinson said at the time.
More to follow.
Iconic Australian swimwear brand Tigerlily has fallen into administration for the second time in four years (pictured: a model wearing one of the brand’s bikinis)