Designer label Dion Lee has appointed voluntary administrators in the latest high-profile business to come under pressure amid difficult economic conditions.
The fashion house, which has six stores in Australia and one in the US, is now under the control of insolvency firm dVT Group administrator Antony Resnick, who will continue running the business as a going concern as he urgently “assess all options” relating to the US business.
Resnick said the Dion Lee brand, founded in 2009 by one of Australia’s highest-profile fashion designers, had built a globally recognised and credible high-fashion brand. “It is regularly worn by cultural icons and influencers. It is noted in the industry for its unique designs. All of which should attract both local and international investor interest,” said Resnick.Lee attended Newtown School of Performing Arts and then TAFE NSW Fashion Design Studio.
The administrators will convene a creditors meeting and prepare a creditors report in the coming weeks.
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