The ongoing sale process of Cue Clothing Co by investment firm owner Hilco Capital has taken a hit, with the Australian retailer being without a CEO or CFO.

UK-based Hilco put the Sydney-founded owner of Cue and Veronika Maine on the market just over a year after acquiring it. With 51 stores across Australia and New Zealand, and a recent yearly 5 per cent sales increase that is forecast to continue, Hilco has not told the media why it chose to part ways with the retailer.

But cracks are starting to appear.

In the sale process managed by FTI Consulting, CFO Josephine Barbaro departed, followed shortly after by CEO Melanie Remai, according to reporting by the Australian Financial Review. Both Barbaro and Remai spent less than two years combined at Cue.

Inside Retail has reached out to FTI Consulting for more detail on the sale, but has yet to receive a response.

It is understood that narrowing, but still significant, losses at Cue Clothing are among the reasons behind Hilco’s desire to sell the retailer, along with long-term store leases that cannot be renegotiated.

Hilco has had trouble in recent years with retail businesses in its portfolio, including placing UK homeware stalwart Homebase into administration in 2024, and selling the storied Cath Kidston brand to Next Plc in 2025 for just $16 million (£8.5 million).