Huge blow to Australia’s celebrity eyebrow queen Kristin Fisher as socialite’s business plunges into administration
- Kristin Fisher Eyebrows in administration
- The company owed $900.00 to creditors
Kristin Fisher Eyebrows, Kristin Fisher's famous eyebrow queen, has gone bankrupt after the company revealed it owed $900,000 in debt.
Documents filed with corporate regulator ASIC say administrators were appointed to the company on November 30.
It comes months after a restructuring expert, Mervyn Kitay of forensic accountants Worrells, was appointed to the firm, based in Sydney's eastern suburbs, in June.
Kristin Fisher, owner of Kristin Fisher Eyebrows in Sydney's upscale Double Bay, was forced to hire a restructuring specialist from forensic accounting firm Worrells to help resolve her company's mounting debts.
The Australian Taxation Office, one of the largest creditors owed by Ms Fisher in personal taxes, voted against a plan to restructure Kristin Fisher Eyebrows.
Ms Fisher, whose services cost between $40 and $1,600, runs a salon in the exclusive suburb of Double Bay.
Her website says she is 'responsible for shaping and perfecting the brows of Sydney's elite style and celebrity set'.
The company offers eyebrow services such as waxing, shaping, threading, laminating and tinting, as well as eyelash lifts and tinting and LED light therapy sessions.
It has more than 45,000 followers on Instagram.
Under the restructuring plan, lodged with the Australian Securities and Investments Commission, $216,000 would have been repaid this year, with outstanding debts to be paid at a later date.
Administrators Jeremy Nipps and Rahul Goyal of Cor Cordis had been appointed to the company.
They posted a notice that a meeting of creditors would take place on December 12.
In the meantime, the administrators have determined that the business remains viable and will continue to operate with all staff retained and bookings and gift vouchers honoured.
A report by Mr Kitay said Covid restrictions and the breakdown of Ms Fisher's marriage had been “disastrous” for the company.
“The combined effects of Covid (including lockdowns) and the breakdown of the marriage, compounded by a lack of financial advice, had resulted in the company becoming the main source of funding for both his business and that of Ms Barnes personally,” Mr wrote Kitay.
Mr Visser has been contacted for comment