Queensland-based activewear brand Exotic Athletica is set to end its operations on November 16.
In a post across its social channels, the brand confirmed it is switching off website operations after 10 years in business.
“We built this brand for women who dare themselves, who sweat, laugh, cry and strut in every shape and size,” the brand shared in a statement. “You made it bigger, louder and wilder than we imagined.
“To our creators, our ride-or-die customers and our legendary team: thank you for every story, post and cheer.”
The brand’s administration and liquidation is being managed by SV Partners. Media reports indicate Exotic Athletica collapsed owing $13 million.
Exotic Athletica is currently running a closing down sale on its website, with many products being sold for $10 or less. A pair of leggings sold by the brand usually had an RRP of around $70 to $100.
When the company first collapsed in May, SV Partners confirmed that Exotic Athletica faced significant challenges, “such as changes in senior management and increased operational expenses.”
“However, these hurdles also present opportunities for growth and innovation, paving the way for a stronger and more resilient organisation,” SVP shared in the May press release. “These factors contributed to the decision to enter voluntary administration, with the objective of identifying a buyer to continue the much-loved brand.”