Women’s fashion and lingerie company, UnderCoverWear, has been placed in administration.

Administrators Ginette Muller and Lachlan McIntosh of FTI Consulting were appointed to the business on March 10.

UnderCoverWear operates as a party plan business in Australia and New Zealand, selling women’s underwear, nightwear, and apparel.

According to reports, UnderCoverWear posted a net loss of $1.36 million for the 2013 financial year.

A creditors meeting will be held on March 20 in Bella Vista, NSW.