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This is one of nine exclusive news stories in Ragtrader's August edition. To subscribe and receive all hard-hitting content monthly, head here.

Gordon Smith Marketing, parent company of Rodney Clark and Gordon Smith, owes creditors over $7 million.

As first reported on ragtrader.com.au, administrators were appointed to the fashion house on June 27.

Now Ragtrader, which has obtained minutes from the first meeting of creditors, can reveal the toll of the collapse on suppliers.

The firm has debts of over $7 million across 114 creditors, not including 88 staff who are owed super and entitlements.

While the Australian Taxation Office is owed $257,000, SSH Textiles has been hit with a $3.3 million shortfall and Shanghai Establishing Textile International is down $1.6 million.

YQ and LZ International is also $853,000 in the red, with the highest hit local vendor including embattled Dolina Fashion Group at $60,000.

Employee proxies were listed at $533, 430. It is understood several China-based suppliers have agreed not to ship the current spring 2016 range as the administration continues.

A second meeting of creditors is scheduled for this month.

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