Recently collapsed fast fashion retailer Ally Fashion owes more than $56 million in liabilities to over 260 creditors.
This is according to ASIC filings obtained by Ragtrader, which confirms that the highest-value creditor is DDT Management Pty Ltd – a related party to the Ally Fashion business – which is owed $46.1 million.
Other high-value creditors include a construction company which is owed $1.5 million, alongside two shop-fitter firms which are owed $454,799.73 and $297,803.92, as well as a real estate agency being owed $525,531.93.
All this comes after the Federal Court of Australia forced Ally Fashion into liquidation following an application by a landlord for rent arrears in late February.
The court appointed Jeff Marsden and Duncan Clubb of BDO Australia on February 28, 2025.
ASIC filings also indicate that the retailer owes $346,041.79 to Google Australia, and $349,361.51 to a national law firm.
Alongside these liabilities, Ally Fashion also owes over $3.7 million to commercial retail property firms, including around $800,000 to CBRE which manages 33 million square metres of property across Australia.
Ally Fashion also owes around $950,000 to Scentre Group, which manages Westfield shopping centres across Australia and New Zealand.
Other property firms owed money include Lendlease, Mirvac, Savills, QIC and Vicinity Centres.
The documents came out after the Supreme Court of NSW rejected a proposal to take back control of the company by Ally Fashion’s sole director on Wednesday last week, while an application for voluntary administrators to be appointed was also refused, according to a news report from News.com.au.
The company’s director revealed in the recent court hearing that 340 workers had lost their job since the company’s demise.
Meanwhile, the liquidators revealed that “unsolicited” buyers have been circling Ally Fashion, the national publication reported.
Ally Fashion was founded in 2001, and has since grown to 160 stores across Australia and an online store.
Following an urgent assessment of the business by the liquidators, the company has ceased operating 51 retail stores to improve the financial viability of the company.
ASIC documents also show that Ally Fashion has stock on hand with an estimated asset value of $24.6 million, and a net realisable value of $7 million.
The brand also has $300,000 worth of plants and equipment on hand with $400,000 of cash in the bank.
The creditor list does not include staff wages or entitlements.