Australian swimwear brand Tigerlily is the first retailer to fall into administration amid the fallout of COVID-19.
The business appointed administrators Scott Langdon and Jenny Nettleton from KordaMentha on March 22.
The brand operates 30 retail locations across Australia, an online store and employs approximately 200 people.
The business also underwent a major rebrand in November 2019, which saw it place emphasis on sustainable items.
However this brand refresh couldn't save it from COVID-19's impact on sales, KordaMentha said.
"The decision to appoint administrators was made after considering the current state of the retail industry, and the COVID-19 pandemic significantly inhibiting the day-to-day operations of Tigerlily.
"Tigerlily will trade on a limited basis while Administrators communicate with all stakeholders and execute a sale process for the Tigerlily business."
Langdon added that he anticipates strong interest from buyers.
"A sale of business process will commence immediately and we expect a high level of interest in the business given the strong brand and its reputation."
The first meeting of creditors will take place on April 1 2020.
The announcement follows the abrupt departure of the business' CEO and CFO in February.