Australian fashion label Josh Goot has emerged from Voluntary Administration after creditors voted for a Deed of Company Arrangement today.
Director and founder Josh Goot said he was happy and humbled that the company had been returned to his control.
Goot said that he had learned important lessons through the process and was prepared to make the necessary changes to ensure the ongoing success of the company.
“The support I have received from investors, creditors, customers, staff and fashion industry peers has been overwhelming. People have been extremely generous with their good wishes, knowledge and advice.”
“We will be making significant changes to the company’s structure, processes, supply chain and internal timelines for the benefit of our wholesale and retail customers, our key partners and our investors.”
The company continued to trade through the Voluntary Administration and remains on track to deliver the Autumn Winter 2015 Collection to its retail stores and wholesale customers in March & April 2015.
The design and development for the Spring Summer 2015 Collection is in progress, and will be shown to the national wholesale market in April 2015.
“The focus is now on delivering Autumn Winter to our Sydney & Melbourne stores and to our loyal customers,” Goot said. “It’s a beautiful collection that we are very proud of, and excited to show at the Virgin Australia Melbourne Fashion Festival next week.”
The Autumn Winter Collection will be in stores commencing from March 23.
Goot said he is looking forward to the next phase for the company.
“We have some exciting partnerships to announce and we are working on new product lines to sell exclusively through our retail stores.
“I have always believed in the future and potential of the brand. I feel encouraged and motivated that others share in that belief, and that we are now able to take the business forward.”