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Josh Goot will face creditors next week, as he becomes the latest designer to enter rough waters.

Michael John Morris Smith and Peter Hillig, of Smith Hancock Chartered Accountants, were appointed to the designer label on Monday.

The first meeting of creditors will take place at 10am on February 12.

The purpose of the meeting will be to consider whether a committee of creditors should be appointed and whether the current administrators should be maintained.

Goot has told media he appointed administrators in order to restructure the business and is confident it will survive the process.

According to filings, the appointment was made under section 436A of the Corporations Act.

The section states a company may appoint administrators if the board has resolved that the company is insolvent or likely to become insolvent at some future time, and that an administrator of the company should be appointed.

Josh Goot stores in Sydney and Melbourne will continue to stock resort 2015, while autumn/winter deliveries are scheduled to hit stockists in coming months.

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