Virgin Australia and Melbourne Fashion Festival (MFF) have parted ways.
In a letter to the industry, MFF chairman David Briskin confirmed the naming rights sponsor will no longer participate in the event.
Virgin Australia entered voluntary administration on April 21, owing almost $7 billion to more than 12,000 creditors.
Next month, a sale of the business to American private equity firm Bain Capital will be finalised.
Briskin wished the brand well on its new journey.
"From today, the Festival will revert to its original name, the Melbourne Fashion Festival, as we farewell principal and naming rights partner, Virgin Australia," he wrote.
"We have enjoyed a wonderful and long-standing partnership with Virgin Australia since 2014, and are sincerely thankful to all of the Virgin Australia team, past and present, who have supported us over the last seven years and have been with us at every step of our growth trajectory during that period.
"We wish them well as they enter a new chapter of operation.
"Looking forward, we are greatly encouraged by the ongoing support of the State Government of Victoria, and its commitment to major events in Melbourne as we design a responsible program of creativity, innovation and retail led experiences that deliver tangible outcomes to the State, and all participant groups involved.
"Currently, the MFF team is working hard behind the scenes to curate our event for a new world environment, and we look forward to sharing a re-imagined Melbourne Fashion Festival program with you in the coming months."