Make-up artist Napoleon Perdis has lost control of the cosmetics empire he founded 25 years ago, with administrators announcing a sale of the business to an Australian investment firm.
Worrells, the insolvency firm which was put into Napoleon Perdis Cosmetics in January, said the sale to KUBA Investments would save 250 jobs and the Perdis brand.
Melbourne-registered KUBA is owned by Livia Wang, who owns a brand management company, and former retail executive Henry Lee. Worrells has run the Napoleon Perdis Cosmetics profitably since closing half its 56 stores after its appointment.
Subject to the sale to KUBA via a deed of company arrangement being approved by creditors, Mr Perdis and wife Soula-Marie Perdis would remain with the business in…
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