Australian swimwear brand Tigerlily has fallen into voluntary administration again.
PKF’s Glenn Franklin and Jason Stone were appointed as joint administrators on March 4. Tigerlily directors - Crescent Capital’s Michael Alscher and Ziying Sun - have also reportedly stepped down from the company in early January.
It comes just months after its owner Crescent Capital initiated a sale process, and nearly four years on from the last time it entered voluntary administration.
At the end of last year, sources close to the recent sell-off process revealed 11 interested buyers were vying for ownership of Tigerlily.
It was understood that bids were due just before Christmas, with the sale process to continue into 2024.
Tigerlily was founded in Sydney in 2000, and currently operates retail boutiques in Australia and distributes worldwide.