Australian luxury label Ginger & Smart has entered a "strategic administration" to resolve some legacy challenges, owner Alquemie Group has revealed.
Administrators Katherine Barnet and Damien Hodgkinson from Olvera Advisors were appointed by the company on February 25 2022, ASIC documents reveal.
The short-term administration will allow Ginger & Smart to "clean up the lease portfolio and COVID-related rental relief," a spokesperson for Alquemie Group said in a statement.
As a result, Ginger & Smart's Westfield Bondi Junction and The Strand stores have closed.
"However all other physical stores, concession stores in David Jones (nationally) and the online store remain open and continuing to trade," the spokesperson added.
"This is a strategic administration to deal with some legacy issues.
"Ginger & Smart will come out of administration in a few weeks and will then continue to trade on as part of the Alquemie Group," the spokesperson said.
With the two stores closed, Ginger & Smart now operates two standalone boutiques in Paddington and Birkenhead Point and six David Jones concessions.
According to Alquemie Group, team members at the shuttered stores will be redeployed to other locations wherever possible.
The brand was founded in 2002 by Sydney-based sisters Alexandra and Genevieve Smart (pictured).