The first creditors meeting in the administration of Adelaide-based Australian Fashion Labels (AFL) will take place on January 15.
The business entered voluntary administration on January 06, appointing Duff & Phelps administratorsBrett Lord and Marcus Ayres to handle the process.
According to reports fromSmart Company,the ongoing effects of COVID-19 as well as legacy costs from restructuring to an online-only business put the company under intense pressure.
“The legacy of those restructuring costs, plus the impact of COVID-19 on sales have become an increasing hang on the business,” administrator Ayres told the publication.
The administrators are seeking a buyer for the business or the capital to continue its operation into the future…
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