The Australian fashion company behind popular brands Colette and The Daily Edited has collapsed.
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Marquee Retail Group appointed Domenic Calabretta, Mitchell Ball and Richard Lawrence of Mackay Goodwin as voluntary administrators on April 3.
MRG cited an unplanned downturn in sales from October 2023 to March 2024 due to rising inflation and increased interest rates, on top of an ongoing debt arrangement with the ATO from the pandemic.
Chairman of the MRG board Bernie Brookes assured customers it would be business as usual with stores continuing to operate.
"As for our staff, their routine remains unchanged until the Administrator decides upon an outcome and a way forward," he said.
"Our decision today is about securing the future of the Marquee Retail Group and its employees, while emerging on the other side of Voluntary Administration.
"We hope to work with all parties to ensure an outcome, either with a sale or a Deed of Company arrangement recommended in time by the Administrator."
Colette previously collapsed in February 2020 when it was owned by the CBCH group of companies.
It was founded in 2020 by Colette Hayman and her husband Mark, who were also behind the affordable jewellery chain Diva.
The Daily Edited (tde.) is a luxury brand specialising in monogrammed leather accessories and has three stores - two in Sydney and one in Melbourne.
It comes a month after Australian swimwear brand Tigerlily fell into voluntary administration.
