Tigerlily Re-Enters Voluntary Administration

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By Published On: March 12, 20240 Comments

Australian swimwear brand Tigerlily has fallen into voluntary administration for the second time.

Tigerlily was founded nearly 25 years ago in Sydney. The boho inspired swimwear company fell into voluntary administration for the first time in 2021 following the fallout from the Covid 19 pandemic. It was rescued just months later, by fellow Australian company Crumpler under Crescent Capital. 

“When I set out as the Tigerlily CEO, I always knew it would be an uphill battle, stepping into a business in crisis. I was excited to rebuild and mend a business that had lost its way,” 

Travis Wright, CEO of Tigerlily wrote on her LinkedIn. Wright joined the business shortly after its first stint under administration.

“Tigerlily has grown more in the last two years than ever before. The team and I have been sprinting in a race back towards profitability, rebuilding the brand from the inside out. From the customer experience to product designs, today you’ll see a drastically stronger business to the one you found two years ago.”

Late last year, it was announced that Deloitte had been bought in to evaluate the sale of the business from Crescent Capital.

“Kicking off the sale process last year, we were hopeful for the future and for an owner who saw the potential of a business beginning to blossom again. While the sale process has now taken a turn, this sentiment still holds true,” wrote Wright. 

Administrators from auditing and accounting firm PKF were appointed on Tuesday March 4. “It’s business as usual as we await an outcome of this process,” wrote Wright. 

“In the face of adversity my team has held the course, pushed the boundaries, rallied together and always sought to do better, to be better which has resulted in us consistently outperforming a tough retail market. And I for one, am proud as hell. I want to thank my exceptional team for their unwavering dedication and for pouring their everything into Tigerlily over the last two years. I’d also like to thank our partners, who have come alongside us equally invested in the turnaround process. Whatever the result of VA, I’ll be in your corner as your advocate, referee and cheerleader,” she concluded.

About the Author: Rosalea Catterson

Rosalea is the Editor of Power Retail. With a keen interest in consumer behaviour and tech, she covers everything ecommerce and hosts the Power Retail Power Talks Podcast.

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