THE future of Australian ‘it’ designer Josh Goot’s business is in doubt after his label was placed into voluntary administration.
In a statement, the sydney-based designer — who manufactures exclusively in Australia — said the move was to protect staff and suppliers while the business is restructured.
“We have decided to place the company into voluntary administration in order to restructure the business in the wake of well documented difficult trading conditions in the fashion industry,” Goot said in a statement.
“The retail market has witnessed a prolonged downturn since the GFC in 2008 and we are proud that we have been able to sustain and grow the business throughout the challenging period, while manufacturing exclusively in Australia.
“We now need to take some time to restructure to protect the long term interests of the brand and all involved.”
So what does this mean for Goot’s fashion future?
The Australian reported that Goot’s autumn/winter collection will still launch in stores next month, with plans for a spring/summer collection in the works for later in 2015.
A representative for Goot said he was “focusing on the restructuring process”.
In a statement to News Corp Australia, Virgin…
