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Ex-Myer chair Bill Wavish buys Cue Clothing

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Ex-Myer chair Bill Wavish buys Cue Clothing

Storied Australian retailer Cue Clothing Co has been rescued from receivership following its sale to former Myer chairman Bill Wavish, according to reports from The Australian Financial Review (AFR).

The owner of Cue and Veronika Maine was put into administration and receivership by its owners, Hilco Capital, in September. The process, managed by FTI Consulting, had reportedly attracted interest from Brand Collective and Justin Levis, the son of Cue’s founder Rod Levis.

But the business looks set to fall into the hands of a different person in Rod Levis’ orbit. Wavish, a long-time friend of the Cue founder, sat atop department store Myer as executive chairman until it was publicly floated on the ASX.

He would be responsible for reviving the 60-year-old retailer, which met its demise following “insufficient sales”. Hilco had tried to sell Cue Clothing Co for a month without success. During this period, it lost both its CEO and CFO.

Cue’s revenues grew from $98 million in fiscal 2024 to $103.2 million in 2025, while the loss narrowed from $14.1 million to $5.1 million.

FTI Consulting has continued trading at Cue during receivership. The process has seen its once 51-store network plummet to just 20 stores; 26 of those closures were announced in mid-October.



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