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Australian Fashion Labels assets sold to International Fashion Group


Australian Fashion Labels assets sold to International Fashion Group
By Imogen Bailey | 3 March 2021
Ragtrader. 
While the assets have been purchased, what remains of the AFL companies is in liquidation, Lord said. 
The companies which we were administrators of, we are now the liquidators of - so that s the end of those companies. 
We [are now] dealing with the employees and their claims, to hopefully get them paid by the government, he said. 
It is unclear as yet, whether or not any of the 57 former Australian Fashion Labels employees will be retained by the new owners. 
However, according to a post on the BNKR website, a brand new customer care team has been assigned to the business and is working through the emails that were sent to the BNKR support email address.  ....

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Collapsed retailer Australian Fashion Labels finds a buyer but lets go of all staff


Collapsed retailer Australian Fashion Labels finds a buyer but lets go of all staff
January 13, 2021
After a tense weekend, Australian Fashion Labels has entered in to an exclusivity arrangement with a buyer for the business’ assets.
Marcus Ayres, managing director of administrator Duff & Phelps told 
Inside Retail he was unable to secure a buyer for the business as a going concern, nor did he have sufficient financial resources available to him to pursue a recapitalisation.
As a result, he needed to terminate all 45 staff on Monday night.
“We worked really hard trying to get a buyer to pick up all the employees and sell this as a going concern, but it wasn’t possible for us in the tight timetable that we really needed to [make the arrangement in],” Marcus Ayres, partner at administrator Duff & Phelps, told  ....

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