Aussie retailer, Crumpler, has helped save Tigeriliy from the brink of collapse. The retailer filed for voluntary administration in March, citing COVID-19 as the 'core reason' for its collapse.
Tigerlily is getting a second chance, a few months after it filed for voluntary administration amid the pandemic. Aussie retailer, Crumpler, has bought the swimwear brand and will now be led by Adam Wilkinson, the CEO of Crumpler.
While the two companies will share IT systems, head office space and warehousing, the brand identities and businesses will remain separate.
“Crumpler and Tigerlily remain separate businesses with independent identity and aesthetic as well as individual design marketing and customer support teams,” said Wilkinson.
Tigerlily entered voluntary administration in March and was the first retailer to do so amid the COVID-19 outbreak.
“In the past fortnight, it had accelerated in terms of the tightening of the retail space and [the effect on] sales,” said Scott Langdon, the Administrator from KordaMentha in March. “It reduced the number of people coming through shopping centres, which reduced sales in an already challenging environment.”
This was a few months after it rebranded in celebration of its 20th anniversary.
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