Suboo Pty Ltd was wound up following a members’ meeting on October 1, with Christopher Damien Darin of Worrells appointed to oversee the company’s affairs. The formal appointment was recorded in an Australian Securities and Investments Commission (ASIC) notice published the following day.
Liabilities, Assets and Creditor Exposure
ASIC reports cited by 7NEWS outline total liabilities of approximately $655,000. The debt stack includes $140,232.89 owed to Shopify, $105,162.50 to e-commerce financier Wayflyer, and $170,700 in employee entitlements.
Additional creditors listed in the regulatory documents include logistics providers and garment manufacturers: DHL is owed $60,909.41, FedEx $58,299.49, Swell Ltd $51,840.66, and Dongguan P & J Clothing Co Ltd $18,253.25. Against these obligations, the company reported limited assets comprising $1,854.16 in cash, $111,852 in stock, and $2,389 in equipment, alongside $108,507.36 owed to Suboo by Rent the Runway.
Pressures on the Retail Sector
Founded in Bondi in 2012 by Sue Di Chio, Suboo built an international reputation for resortwear and swimwear, securing stockists across major global retailers including Saks Fifth Avenue, Bloomingdale’s, Nordstrom, and Revolve. Its designs had been worn by high-profile public figures, including Gigi Hadid, Kendall Jenner, and Matilda Djerf.
However, in a statement to nine.com.au, the company noted it had considered continuing operations before concluding the business was no longer viable. Suboo pointed to rising operating costs, broad global economic pressures, and shifts in the international retail landscape as core drivers behind the collapse.
Customer Status and Wider Industry Fallout
Suboo confirmed that there are no unfulfilled customer orders pending, stating that customer obligations were managed to the best of the company’s ability prior to the wind-up. The official website is currently offline, displaying a maintenance notice.
The collapse marks the second major contraction in the Australian fashion sector within weeks, following Cue Clothing Co — owner of Cue and Veronika Maine — entering receivership in the previous month.
Reporting source: 7news.com.au.