Collapsed swimwear brand Seafolly is likely to be sold back to the same owners that first placed the business into administration, despite the retailer receiving more than 80 bids from other interested buyers.
Seafolly's former owner L Catterton is set to buy the brand back following its collapse in late June."I was overwhelmed by the level of interest and competition to own one of Australia’s most recognisable brands," Mr Langdon said. "With an optimised retail, online and wholesale network, Seafolly will continue to be the iconic Australian beachwear brand that customers know and love.
A proposed Deed of Company Arrangement will be sent to creditors on Monday night and will be voted on at the next meeting of creditors on August 3.
Source: News Formal (newsformal.com)
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