A major Australian fashion company with celebrity fans such as Hailey Baldwin has gone into voluntary administration – putting the jobs of its 400 employees at risk.
Marquee Retail Group (MRG), which owns accessory brands Colette by Colette Hayman and The Daily Edited, appointed an administrator after it was unable to save the brands from collapse.
An MRG spokesperson said the company plans to keep its 60 stores open, not reduce staff numbers and to continue operating after selling all or part of the business.
Colette by Colette Hayman went into administration in 2020 before being bought by former Myer chief executive officer Bernie Brookes.
The Daily Edited, a luxury fashion brand, went into liquidation in October 2022 after a high profile fall-out between its co-founders Alyce Tran and Tania Liu.
Major Australian fashion company has gone into voluntary administration, but hopes to keep all of its shops open and not lose any of its 400 employees. One of its brands is Colette by Colette Hayman (model pictured)
The Daily Edited, a luxury fashion brand (model pictured) beloved by wealthy Australians, went into liquidation in October 2022
They launched The Daily Edited in 2014 after meeting three years earlier while working at a Perth law firm, building it into a $25million fashion powerhouse with stores in Sydney and New York, in addition to their online offering.
Several famous faces worked with the brand in the past.
Hailey Baldwin collaborated with The Daily Edited in 2016, promoting a collection labelled as #theHAILEYedited.
In 2017, film star Sylvester Stallone’s daughters Sistine, Sophia and Scarlet were featured in the #MeetTheStallones campaign promoting a new collection.
But the beginning of the end came after Ms Liu launched legal action against her business partner in the NSW Supreme Court in December 2019, claiming Ms Tran spent thousands of dollars of the business’ money on herself in breach of her duties as a company director.
Ms Tran denied the allegations before selling her 50 per cent stake in the company in May 2021.
The terms of the sale were not disclosed, but it ended their legal battle.
MRG was formed in 2023 after Mr Brookes bought The Daily Edited in 2022.
Phoebe Burgess poses for a mirror selfie with a The Daily Edited phone case
Hailey Baldwin collaborated with The Daily Edited in 2016, promoting a collection labelled as #theHAILEYedited
In 2017, film star Sylvester Stallone’s daughters Sistine, Sophia and Scarlet were featured in the #MeetTheStallones campaign promoting a new collection
The company had been affected by the cost of living crisis in Australia, leading to a downturn in sales in the past six months, which it blamed on rising interest rates and inflation.
It also has a debt with the Australian Taxation Office, which contributed to it going into administration. The process will be managed by insolvency firm Mackay Goodwin.
Mr Brookes said the business hopes to operate as normal while it is in administration.
‘Our decision today is about securing the future of the Marquee Retail Group and its employees, while emerging on the other side of voluntary administration,’ he said.
‘We hope to work with all parties to ensure an outcome, either with a sale or a Deed of Company arrangement recommended in time by the Administrator.’
He added that ‘the Board of Directors regret that these events have come to pass and acknowledge all the Group’s employees for their hard work and contribution.’
Alyce Tran (right) and Tania Liu (left) launched The Daily Edited in 2014 after meeting three years earlier while working at a Perth law firm
Colette by Colette Hayman (pictured) went into administration in 2020 before being bought by former Myer chief executive officer Bernie Brookes
