The sale of luxury accessories brand The Daily Edited (TDE) is set for completion by Christmas, Ragtrader can reveal.
KordaMentha Partner Kate Conneely, who is managing the process, confirmed that interested parties are now completing due diligence.
“We have received a very pleasing level of interest in the sale of TDE from Australian and international industry and trade players, family offices and private equity,” Conneely said. "The sale timetable has been structured so as to provide an outcome prior to Christmas."
Conneely also noted that, on November 18, 2022, the Federal Court granted the administrators an extension to the convening period to February 24, 2023. The court also removed Gavin Moss as Liquidator, appointing Rahul Goyal and Kate Conneely as replacement Liquidators.
In September, TDE saw a shock collapse, with the brand owing $2.8 million to creditors. It was placed into liquidation, with the brand then going up for sale earlier this month.
The brand traded personalised accessories, retailing leather goods that consumers could customise with monograms. Its product range included bags, purses, wallets, organisers and phone and laptop cases for both men and women.
TDE has a flagship store in the Queen Victoria Building in Sydney’s CBD, an online shop, and shopping enabled on its popular social media platforms.
The brand is also well known for its collaborations with international influencers and fashion personalities, such as Hailey Bieber and Amber Valletta.
Prior to its collapse, TDE outlined a strategy for future growth including changes to production and brand.