Inside Retail has learned activewear brand Stax has been formally put up for sale, with a structured process now underway as trading disruptions continue across parts of the business.

A transaction memorandum and data book have been distributed to interested parties, including known industry players, with non-binding indicative offers due by July 13.

The sale process comes as Stax pauses online trading while negotiations with key stakeholders continue in an effort to stabilise operations. The brand’s Pitt Street store in Sydney is currently closed, although its Liverpool location remains open.

The intention had been for the business to “trade as usual” following the recievers appointment, but ongoing operations are dependent on cooperation from multiple stakeholders, which is still being negotiated.

The decision to halt online orders and close the Pitt Street store was made by the receivers several days after their appointment, as part of an initial assessment aimed at minimising disruption.

Stax’s website currently directs customers to updated FAQs, with further clarity on trading expected as the sale process progresses.