Australian fashion label Nique has become the latest retailer to enter voluntary administration.
The brand appointed Justin Howlett from SMB Advisory as administrator of the company, with a creditors meeting set on February 26.
The company ceased trading immediately following the appointment, which was made on February 14.
Creditors, including gift voucher holders, are being called to contact SMB Advisory, with the firm also calling for expressions of interest regarding Nique’s business, stock and intellectual property.
Upon entering administration, Nique operated three retail stores, including two in Sydney and one in Melbourne. Pre-COVID, the brand had operated eight stores, which were then consolidated during the pandemic. The brand was born in 1998.
More recently, Nique signed a wholesale deal with Brisbane-based label Medley Jewellery, to stock 24 styles through both its online portal and three physical stores.
The news of Nique follows other retail brands entering administration in the last year, including Australian vacuum retailer Godfreys, as well as Sol Sana, EziBuy, and Alice McCall.
Ragtrader has reached out to SMB Advisory for further comment.