Marquee Group rescue deal seals its exit from administration 

(Source: The Daily Edited/Facebook)

Marquee Retail Group, parent of Colette by Colette Hayman and The Daily Edited, has concluded its voluntary administration process after executing a Deed of Company Arrangement (Doca).

The Doca is a binding arrangement between a company and its creditors governing how the company’s affairs will be dealt with, according to the Australian Securities & Investment Commission.

In collaboration with restructuring and insolvency firm Mackay Goodwin, Marquee completed the agreement within two months and was able to save more than 400 jobs.

The new company will operate 40 stores under the Colette by Colette Hayman brand, along with its online site, and the online business of The Daily Edited brand, said Bernie Brookes, chairman of Marquee Retail Group.

“There were fewer than 10 redundancies. Mackay Goodwin evaluated alternatives for the business, including offers to purchase it (or parts of the business), however, the best outcome for creditors and staff was to accept the Doca,” added Brookes.

Marquee acquired fashion accessories and jewellery brand Colette by Colette Hayman in September 2020 and luxury fashion and accessories label The Daily Edited in December 2022.

The company entered voluntary administration in early April, citing an unplanned downturn in sales since October compounded by ongoing debt arrangement with the ATO.

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