Major update after Aussie swimwear brand Tigerlily collapsed for the second time in four years
Creditors of a popular Australian swimwear brand that has been put into administration for the second time in four years will meet next week.
At Tigerlily Swimming, administrators Glenn Franklin and Jason Stone of PKF were appointed on March 4.
The brand was founded in Sydney in 2000 by Jodhi Meares, a model and the former wife of media and gaming billionaire James Packer.
The company’s creditors are expected to meet for a second time next Thursday, according to a notice on ASIC on Wednesday, after already meeting on March 15.
The purpose of the meeting is to decide on the future of the company.
At Tigerlily Swimming, administrators Glenn Franklin and Jason Stone of PKF were appointed on March 4 (pictured is Jesinta Franklin modeling Tigerlily in 2017)
Tigerlily was bought by Sydney private equity firm Crescent Capital from troubled Billabong in 2017 for $60 million.
The brand’s previous collapse under voluntary administration was handled by KordaMentha in 2020 after the Covid pandemic impacted retail sales.
Travel restrictions coupled with a decline in foot traffic severely impacted the brand.
Despite emerging from that setback, Crescent engaged Deloitte last year to find a buyer for Tigerlily, which proved unsuccessful.
Tigerlily had recently tried to expand its range from bikinis and patterned dresses to bohemian-inspired knitwear, boots and even candles.
The label has approximately 10 boutiques across Australia and approximately 40 global wholesale partners.
Early last year, the company made a targeted move into the US e-commerce sector in an effort to offset the Australian winter sales decline with the US summer season.
Tigerlily was founded in Sydney in 2000 by Jodhi Meares, a model and the former wife of media and gaming billionaire James Packer.