Suboo Fashion Label Collapses into Liquidation with $655k Debt

Australian fashion brand Suboo has entered liquidation after 14 years, with ASIC records showing the Bondi-founded womenswear label owes approximately $655,000 to creditors. The company, which dressed celebrities including Gigi Hadid and Kendall Jenner, cited rising operating costs, global economic pressures, and shifts in the international fashion landscape as reasons for the collapse. Liquidator Christopher Damien Darin was appointed on October 1 following a members’ meeting.

How much does Suboo owe and to whom

Suboo Pty Ltd faces total liabilities of approximately $655,000 across multiple creditors. Shopify is owed $140,232.89 and e-commerce financier Wayflyer is owed $105,162.50. Logistics companies DHL and FedEx are owed $60,909.41 and $58,299.49 respectively. Garment producers Swell Ltd and Dongguan P & J Clothing Co Ltd are owed $51,840.66 and $18,253.25. Two employees are owed $170,700 in combined entitlements including annual leave and long service leave.

What assets does Suboo have left

The company holds minimal assets: $1,854.16 in cash, $111,852 in stock, and $2,389 in equipment. Suboo claims to be owed $108,507.36 from US fashion rental company Rent the Runway, plus smaller amounts from Anthropologie, Nuuly, and Argentina Boutique in Geelong West. These receivables may help offset some creditor claims but fall well short of total liabilities.

Why the fashion brand failed

Suboo cited factors outside its control that affected the broader fashion industry. The company said it considered continuing operations but decided this was neither responsible nor commercially viable. Rising operating costs, global economic pressures, and significant changes across the international fashion and retail landscape drove the decision. The retail environment had transformed dramatically since Suboo’s 2012 founding.

What happens to customers and the brand

Suboo confirmed all customer orders were completed before liquidation and customer obligations were managed to the best of the company’s ability. The company has not revealed what will happen to the Suboo name or brand assets. Its website displays a maintenance message, and no social media posts have appeared since September 30. The brand’s future remains uncertain pending liquidator decisions.

Final Thoughts

Suboo’s collapse reflects the challenging conditions facing Australian fashion retailers. With $655,000 in liabilities against minimal assets, the brand joins other recent Australian fashion failures including Cue Clothing Co. The liquidation marks the end of a 14-year run for a label that once dressed global celebrities.

FAQs

Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.