National swimwear retailer Seafolly has collapsed into voluntary administration amid the impact of the COVID-19 pandemic on Australias beleaguered retail sector.
Scott Langdon and Rahul Goyal of KordaMentha Restructuring were appointed as voluntary administrators of the business on Monday and will now attempt to sell the company after an assessment of its affairs is completed.
The business, which has 44 stores in Australia and 12 across the United States, Singapore and New Zealand, will continue to trade for the time being and gift cards will be honoured.
The administration also covers Seafollys sister business Sunburn Swimwear, but it remains unclear whether the businesses will be offered to suitors together or separately.
Given the q…
Read the full article at: https://www.smartcompany.com.au/industries/retail/seafolly-administration-sunburn/