NATIONAL: Administrators for collapsed shoe chain Steve Madden Australia had fielded 43 expressions of interest from potential investors - but interest was not enough to save the collapsed company.
Administrator Ferrier Hodgson revealed just one party had submitted an indicative offer by the closing date for applications last month, withdrawing after three days of conducting due diligence.
According to a final report to creditors, the company owed ANZ bank $8 million when administrators were appointed in July and its accounts with the bank were overdrawn.