Fashion designer, Lisa Ho, has purchased the majority of the intellectual property (IP) of her apparel brand of the same name under a confidential agreement, according to administrator, HLB Mann Judd Sydney.

It follows the separate sale of the Lisa Ho Eyewear IP to Australian luxury eyewear producer and distributor, Face Optics, on June 28. A creditors meeting has resulted in a decision the place the Lisa Ho Group entities in liquidation.

Seven Lisa Ho retail stores ceased business at the end of June. Todd Gammel of HLB Mann Judd said the arrangements with Ms Ho and Face Optics will result in a return to the secured creditors of the Lisa Ho business after costs.

“After the extensive sale program, we came to a position that the sale of the IP to the two separate parties was the best way of maximising value for these assets,” said Gammel.

“The arrangements also mean that there is an opportunity for the Lisa Ho brand to continue in both eyewear and clothing, notwithstanding the liquidation of the Lisa Ho Group entities and ongoing realisation of remaining assets by the liquidators,” Gammel said.

Commenting on the Lisa Ho retail network, Gammel said the online store and two remaining retail stores at The Strand in Sydney and Chadstone in Melbourne closed on July 7.

A final warehouse sale is to be held at the Lisa Ho warehouse in Buckingham St, Surry Hills this week.

“New stock has continued to arrive and stock from closed stores consolidated, so there is an opportunity for a great discount on day wear, evening and bridal dresses,” said Gammel.

“We appreciate the loyalty of Lisa Ho customers who have shown in their support for the business in recent weeks.

“Lisa Ho is synonymous with Australian fashion excellence and there are currently terrific opportunities to own Lisa Ho fashion items which will never be repeated.”

The business will be closed over the next two weeks. All remaining assets including unique samples, classic Lisa Ho dresses from an archive of 30 years, vintage fabric and fixed assets at the Surry Hills head office are for sale or auction this week.

Last week 40km of raw material stock, thousands of buttons, zippers, and accessories were sold through the warehouse.