• Nic Briand and Susien Chong.
    Nic Briand and Susien Chong.

The industry is still reeling from the collapse of designer label Lover.

So what now?

Administrators for the brand, Ferrier Hodgson, have hosted the first meeting of creditors.

It was revealed the administration could cost the brand anywhere between $40,000 to $50,000.

Secured, preferential and unsecured creditors have submitted their claims, with a second meeting of creditors scheduled on or before December 29.

Nic Briand and Susien Chong started the label in 2001, opening a flagship store in Sydney's Strand Arcade in 2012.

At the time of its collapse last month, it employed 25 staff and recorded revenue of $5.2 million in 2017.

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