The creditors of a popular Australian swimwear brand that fell into administration for the second time in four years are set to meet next week.
Tigerlily Swimwear had administrators Glenn Franklin and Jason Stone of PKF appointed on March 4.
The brand was founded in 2000 in Sydney by Jodhi Meares, a model and the former wife of media and gaming billionaire James Packer.
Creditors of the company are expected to meet for a second time next Thursday, according to a notice on ASIC on Wednesday, having met once already on March 15.
The purpose of the meeting is to decide the future of the business.
Tigerlily Swimwear had administrators Glenn Franklin and Jason Stone of PKF appointed on March 4 (pictured is Jesinta Franklin modelling Tigerlily in 2017)
Tigerlily was bought by Sydney private equity firm Crescent Capital in 2017 from struggling Billabong for $60million.
The brand’s previous collapse into voluntary administration was handled by KordaMentha in 2020 after the Covid pandemic affected retail sales.
Travel restrictions combined with a drop in foot traffic severely impacted the brand.
Despite emerging from that setback, Crescent engaged Deloitte to find a buyer for Tigerlily last year which proved unsuccessful.
Tigerlily had recently tried expanding its range from its roots of bikinis and patterned dresses to bohemian-inspired knitwear, boots and even candles.
The label has about 10 boutique stores across Australia and about 40 global wholesale partners.
Early last year it made a focused push into the US e-commerce space in an effort to balance out Australia’s winter drop in sales with the US summer season.
Tigerlily was founded in 2000 in Sydney by Jodhi Meares, a model and the former wife of media and gaming billionaire James Packer
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