Tigerlily enters voluntary administration for second time

(Source: Tigerlily)

Swimwear brand Tigerlily has entered voluntary administration again, just months after the company said it was close to having a new owner.

While Tigerlily told Inside Retail in January this year that it was a phase away from being sold, documents dated this week confirm the company has appointed PKF’s Glenn Franklin and Jason Stone as joint administrators.

The same documents also show that Tigerlily directors, Crescent’s Michael Alscher and Ziying Sun, stepped down from the company in early January.

Last October, Crescent Capital appointed Deloitte to help sell the swimwear brand to capitalise on the high demand for beach apparel.

Founded in 2000 in Sydney, Tigerlily is known for its patterned dresses and bikinis. The brand was acquired by Crescent Capital in 2017, but fell into voluntary administration in March 2020, largely due to the impact of the Covid-19 pandemic.

In 2021, Tigerlily named Travis Wright as CEO who led the business to profitability through an overhaul of operations across all facets of the business.

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