CONNECT WITH US
eCommerce

eCommerce

Black Milk shares ‘very difficult news’, enters administration

Inside Retail Australia logo

Published on

Add as a preferred source on Google
Black Milk shares ‘very difficult news’, enters administration

Brisbane-founded fashion brand Black Milk has entered voluntary administration, 17 years after its founding.

Linda Lillis and the late James Lillis co-founded the brand, which grew to an online-first alternative fashion brand with a loyal customer base known as ‘Sharkies’. In a statement to its customers, Linda said the business “became an enormous part of our lives and grew into something neither of us could ever have imagined”.

Lillis said the voluntary administration process has not impacted trading and said that the company’s employees remain in place. Apex Advisory has been appointed as administrators.

“Voluntary administration gives the business an opportunity to explore what comes next,” she added. “We don’t yet know what the outcome of that process will be, and I don’t want to make promises about something that is now in the hands of the administrators.”

“What I can say is that entering administration does not necessarily mean the end of Black Milk, and we very much hope it isn’t.”

Earlier this year, Black Milk faced backlash from its community when it closed the last of its manufacturing operations in Australia, offshoring the process to China and moving on from its ‘Made in Australia’ label. 

“Over the past few years, BlackMilk has undertaken significant change to respond to a very different retail environment and build a more sustainable business,” Lillis said.



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.