Australian fashion startup Shoes of Prey has fallen into liquidation, marking a grim turn for the sector.
Liquidators from FTI Consulting Kelly Trenfield and John Park have been appointed to the business.
The move comes after the footwear startup ceased production last year in a bid to consider future options.
It was founded in 2009 by Michael and Jodie Fox, and Mike Knapp.
The appointment follows a series of setbacks for the sector.
Earlier this month, Australian fashion startup Her Fashion Box was fined over $300,000 for underpaying employees.
The subscriptions-based platform was founded by Kath Purkis, who shuttered her original eCommerce venture Le Black Book due to poor profitability.
Purkis is not the only digital entrepreneur to make headlines in recent times.
Accessories startup Mon Purse saw its founder Lana Hopkins step down as co-CEO in a board room shakeup last year.
According to the Australian Financial Review, the value of the company had plunged from more than $30 million to $5 million as it entered its fourth capital raise in six months.