Australian swimwear fashion brand Seafolly has entered administration due to the “crippling” financial impact of the Covid-19 pandemic.
The company has a network of 44 stores across Australia and a further 12 overseas.
Scott Langdon and Rahul Goyal of KordaMentha Restructuring have been appointed as voluntary administrators.
KordaMentha said it will immediately commence a sale of the business process. “Given the quality of the brand and its reputation, there will inevitably be a high level of interest in purchasing the business,” Langdon said in a statement.
But for now it will be business as usual for customers as the administrators assessed the business. All Seafolly gift cards and the Beach Club Rewards points will continue to be redeemable at all Seafolly stores.
Photo credit: Seafolly