General Pants Group owned brand Metalicus has entered voluntary administration.
Administrators Petr Vrsecky, Stirling Home and Jason Stone from PKF Melbourne have been appointed to the brand.
The appointment took place on May 2, with the first meeting of creditors set for Melbourne on May 14.
Metalicus confirmed the news in an email to customers yesterday.
“Metalicus has long been recognised as an iconic Australian fashion brand and we would like to take this opportunity to thank our customers for their ongoing loyalty and support over the years,” the company said.
Metalicus was sold to General Pants Group in mid-2016 by PAS Group.
It was recording around $25 million in sales at the time.
Metalicus debuted its 2018 collection exclusively with General Pants Co. on March 5.
The debut was preceded by a lavish Sydney launch, featuring influencers and a pool-side runway show.