One of Australia's best-known women's fashion labels, Bettina Liano, has been placed in Voluntary Administration.
Ferrier Hodgson partners John Lindholm and Brendan Richards have been appointed Voluntary Administrators and are managing the business.
The Bettina Liano brand was established in 1984 when one of her designs was spotted on Chapel Street by a then-prominent retailer, and now trades in Melbourne, Sydney and Perth through a chain of seven boutiques. The brand is distributed through the rest of Australia, New Zealand, Indonesia and Malaysia through more than 120 stockists. The brand employs 90 people in Australia.
Administrator John Lindholm said it would be business as usual at Bettina Liano while he conducts an urgent review of the business.
“We will be looking for a buyer straight away – we will be advertising for expressions of interest before the end of the week,” Mr Lindholm said. “Through our review of the business we will look at the potential to restructure the company and get it back on track. It is too early to be able to say with any surety what led the company to this position, but obviously times have been pretty tough in Australian retail.”
Director, Bettina Liano, said she would be working with the Administrators in an effort to return the business to profitability.
“I have appointed the Administrators and feel that we can manage the Bettina Liano brand through this difficult transition period,” Ms Liano said.
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