The founders of Stax have taken to their personal Instagram accounts to offer apologies to the brand’s customers over the current receivership process, which they’ve called the “most difficult chapter” in their lives.
Founded by Don Robertson and Matilda Murray in 2015, Stax sells a range of everyday essentials through an online channel and two boutique stores in the Sydney CBD and Liverpool.
Joseph Hansell and Asjadi Hone of FTI Consulting were appointed as receivers and managers of the company late last month, with Hansell confirming then that the business is trading as usual while the receivers undertook an urgent assessment of the company’s operations.
The brand recently underwent a sale process, with non-binding indicative offers being accepted up until July 13. Ragtrader has reached out to FTI Consulting to get an update on this process.
According to the Stax founders, they have received hundreds of messages from customers who are frustrated, disappointed and upset over unfulfilled orders.
“First and foremost, we’re truly sorry for this and for not communicating earlier,” the statement read.
“STAX. was built over more than a decade with an incredible community, and knowing that many of our customers have been impacted is something we carry every day.”
Since the appointment of receivers and managers last month, the pair handed over control of the company and its operations to the receivers. Decisions regarding outstanding orders and the administration of the business are now being managed through that process, according to the founders.
“I know that doesn’t change the frustration or disappointment so many of you are feeling,” Murray and Robertson shared. “If you placed an order and haven’t received it, we completely understand why you’re upset.”
The pair told customers that if they have paid by credit card, debit card or PayPal and have not received their orders, they could contact their payment providers to ask about available options, including buyer protection or chargeback processes.
“To everyone who has supported STAX. over the years, thank you. Your support helped build something that meant so much to us, and we will never take that for granted.
“Thank you as well to those who have shown us kindness during what has been the most difficult chapter of our lives.”