Iconic Australian designer brand Lisa Ho has collapsed into administration, following a string of financial woes.
The empire of local designer Lisa Ho has been placed into administration this week, despite having confirmed her intention to list on the National Stock Exchange of Australia (NSX) in February.
This was abandoned in favour of a private equity investment last month.
As previously reported on ragtrader.com,au, the public listing was scheduled to take place on April 16, with interested shareholders expected to shell out at least $2,000 for 10,000 shares.
Documents obtained by ragtrader.com.au revealed the funds from the listing would have been funnelled into expansion of the brand, locally and on an international scale.
At the time, Ho said she would look to build her brand's presence in the US, which she described as a “natural market” for the brand.
Under her direction as CEO and chair of the board, the Lisa Ho group was also set to increase overseas promotions within the next six months, and look to establish a global retail network within the year.
Ho established her eponymous fashion label in 1982.
A creditors meeting is due to take place at the end of this month. It is understood administrators are pursuing a sale of business.
For more information pick up a copy of the Ragtrader June print edition.