It has been reported that popular swimsuit brand Tigerlily Swimwear of Australia has once again gone into administration.
This is the second time that the company has failed in four years.
According to a notice posted to the company’s website, administrators were appointed on March 4.
The two administrators, Jason Stone and Glenn Franklin, are from PFK.
According to documents released by the Australian Securities and Investments Commission, Tigerlily’s directors, Ziying Sun and Michael Alscher, resigned from their positions in January.
The company was established in Sydney in 2000. It had 10 boutiques in the country and distributed its products all around the world.
Scott Langdon, the administrator of Tigerlily in 2020, blamed the company’s failure on the pandemic.
He said that the number of people visiting shopping centers had dropped, which affected the company’s sales.
The administrators said that they would begin a sale of the company’s assets immediately.
This comes after another brand, Nobody Denim, went out of business last year.
It was stocked by major retailers such as David Jones and The Iconic.