The top chiefs of Cue Clothing Co have exited the business, according to media reports, which comes amid an ongoing sale process.
The Australian Financial Review recently reported that Cue CEO Melanie Remai and its CFO Josephine Barbaro have stepped away from the business. This comes after Cue Clothing’s owner Hilco Capital put the business up for sale last month.
Hilco has owned Cue for less than one and a half years, after the fashion business’s founder, Rod Levis, sold it off to Hilco in April last year amid growing losses and a dispute between the founder and his son, Justin Levis, over succession plans for the business.
Once acquired, Hilco poached Melanie Remai from Trenery to lead the business as CEO.
The latest accounts filed to ASIC show Cue’s FY25 sales hitting $103.2 million, up from $98 million in FY24. The company also turned around mounting losses, dropping from a loss of $14.1 million in FY24 to a loss of $5.1 million in FY25.
The documents also show that Cue Clothing refinanced loans with Hilco.
Ragtrader has reached out to FTI Consulting and Hilco Capital for further comment.