Ragtrader can reveal close to 100 unsecured creditors were impacted by the administration of prominent womenswear label Little Joe.
A register from the first meeting of creditors on February 22, freshly filed with the Australian Securities and Investments Commission, saw 99 firms and individuals lodge claims with the company. As reported on ragtrader.com.au, Little Joe appointed Jirsch Sutherland Chartered Accountants to handle its affairs on February 10 and commenced shutting across Melbourne and the Gold Coast shortlty after.
Administrator Bradd William Morelli did not confirm the total owed to unsecured creditors, however the register puts this in the seven figures. While not all creditors detailed the amount owed, investors and industry suppliers appeared hardest hit. Investec Property lodged the highest claim at $844,377, followed by Jigsaw Capital ($170,489), China Chain ($107,640) and Fashion Network ($106,738).
Retail property firms also took a blow, with high-profile creditors including Westfield Sydney ($87,461) and Marina Mirage ($32,561) as well as Colonial First State Asset Management ($44,782) and City Property Management ($19,644). The Australian Taxation Office laid claim to $72,102, while the Office State of Revenue recorded $6,276 and the Australian Customs & Border Protection Service reported $30,750 in unpaid fees.
Sally Burleigh Public Relations, which represents power brands such as Mela Purdie and Camilla, was reportedly owed $18,421 at the time of the appointment. Designer accessory brand Rachael Ruddick, stocked at Little Joe stores, had $2063 in claims while respected fashion agency Susie Sharrock clocked in $5465.
Little Joe did not return a request for comment by time of press. The Little Joe Woman label was first launched from New York in 2002, wholesaling to 80 boutiques and department stores globally before relocating to Australia three years later. Co-founders Gail Elliott and Joe Coffey opened their first Australian boutique in 2005 and went on to supply premium department store David Jones.
Little Joe: Debt heavy.
