kikki.K has collapsed for the second time in two years, after it was acquired by Texas-based retailer, Erin Condren, in June 2020.
The stationery company, which was founded in Melbourne in 2001 by Kristina Karlsson and Paul Lacy, entered voluntary administration again after its recent sale to Texas-based Erin Condren Designs (EC).
kikki.K first entered voluntary administration in March 2020, owing $20 million to creditors.While it was sold in June 2020, the retailer has been unable to withstand the massive impact of ongoing lockdowns in Australia, Singapore and New Zealand.
Its been a massive battle for business survival in recent months, said CEO Paul Lacy in a statement. Weve taken numerous urgent steps to find a way through but …
Read the full article at: https://powerretail.com.au/news/breaking-kikki-k-enters-voluntary-administration-for-second-time-in-two-years/