Iconic Australian designer brand Metalicus has been forced into voluntary administration after almost five decades of success.
The brand, founded by Melma Hamersfeld, shared the sad news in an email to its customers on Wednesday night.
‘Metalicus has long been recognised as an iconic Australian fashion brand and we would like to take this opportunity to thank our customers for their ongoing loyalty and support over the years,’ it said.
‘Whilst this is a difficult period for our staff and customers, tomorrow we will be launching a sale event at all of our flagship stores, Myer concessions and online with significant savings on all pieces.’
Administrators have been appointed and a meeting for creditors will be held in Melbourne on May 14.
Metalicus was sold by the Pas Group to the General Pants Group in 2016.
The apparel retail group made the sale in an attempt to free up more capital, Inside Retail reported.
At the time Pas said Metalicus was struggling to make a profit despite $25 million in sales in 2016.
Huge sales are expected to hit the Metalicus stores and online today.
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