- The Australian franchise of Dion Lee collapses
- Major partnership deal was cancelled
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A major Aussie fashion brand that made dresses worn by superstars such as Taylor Swift and Dua Lipa has entered administration.
The Australian franchise of clothing and apparel brand Dion Lee has become insolvent after a partnership deal collapsed.
Antony Resnick, a liquidator from insolvency firm dVT Group was appointed as the administrator for all Australian Dion Lee stores on Thursday.
The Australian franchise of clothing and apparel brand Dion Lee has become insolvent after a partnership deal collapsed (pictured Dion Lee clothing displayed at a fashion show)
dVT Group is also in the process of considering investors who may be interested in providing financial capital for the venture.
The business is understood to continue to trade until Mr Resnick can restructure the business by ensuring their debt obligations are met.
The fashion label is understood to have entered administration after a partnership deal fell through.
Major clothing label Cue Clothing Co reportedly ended their partnership agreement with the Dion Lee and also cancelled their investment in the business, according to The Australian.
Daily Mail Australia has contacted Dion Lee for comment.
The business found renewed fame after pop star Taylor Swift wore a $650 Dion Lee Crochet Corset Top at the SuperBowl contested by the Kansas City Chiefs and the San Francisco 49ers.
The clothing label was founded by Australian fashion designer Dion Lee in 2009 when he debuted a collection of his pieces at the Australian Fashion week.
The business found renewed fame after pop star Taylor Swift (pictured centre) wore a $650 Dion Lee Crochet Corset Top at the SuperBowl
The clothing label was founded by Australian fashion designer Dion Lee (pictured) in 2009.
More to come.