Sunglasses retailer Soda Shades has been placed in administration, a victim of the global supply-chain crisis.
KordaMentha Restructuring, as voluntary administrator, has begun a sale process for the business, which sells eyewear on its own website, as well as through online fashion retailers including The Iconic.
The brand was once part-owned by social media influencer and entrepreneur Steph Claire Smith and her partner Josh Miller.
Rahul Goyal and Kate Conneely of KordaMentha Restructuring said the business was preparing for “an exciting period of growth domestically, and further expansion into international markets”, before its operations “came unstuck due to supply chain issues”.
Assets up for sale are stock and intellectual property, including social media channels used to promote sales.
“We expect there will be a high level of interest in purchasing such a fresh label. We have quality stock on hand, marketing ready to roll out, and a significant social media following. This is a great opportunity for any interested buyer,” said Goyal.