In a severe setback to its eponymous brand, which has dressed celebrities including Troye Sivan, Taylor Swift, Dua Lipa, and the Duchess of Sussex, Australian fashion label Dion Lee has called in the administrators.
The announcement that Cue, an Australian retail company, had withdrew its investment in the designer clothing prompted the action.
While it assesses the company's future and seeks to draw in new investors, Antony Resnick of the insolvency firm dVT Group has taken over as administrator of Dion Lee's Australian division.
The brand has one retail location in the US and six in Australia (its first location in North America opened in Miami late last year).
Resnick declared that he was evaluating "all options" about the US business immediately.
Resnick told the Sydney Morning Herald in a statement, "We are in the very early stages of our administration process and our focus right now is on speaking with the Australian and US-based team and getting across all the relevant operational and financial data."
The Australian retail locations as well as the online business will stay open. /BGNES