Immediate Closures Across Retail Networks
Australian fashion retailer Inside Retail reports that the receivers and managers for Cue Clothing have moved to shutter five underperforming storefronts just three days after the 58-year-old company entered voluntary administration and receivership. The sudden closures affect the Woden Cue, Parramatta Cue, Mosman Veronica Maine, Melbourne Central Cue, and Armadale Cue locations, with management confirming that no concession counters are included in the immediate shutdowns.
According to SmartCompany, appointed receivers Kate Warwick and Vaughan Strawbridge of FTI Consulting stated that the difficult decision was made to protect the broader business as a going concern. While the five retail sites wind down operations, receivers indicated they are actively exploring opportunities to re-deploy affected staff members across the remaining network of 51 to 75 standalone boutiques and concession stands operating across Australia and New Zealand.
Administration Triggers and Financial Pressures
The retail group fell into voluntary administration on September 15, 2026, when company directors appointed Duncan Clubb and Shaun Mckinnon of BDO to oversee the process. Lenders subsequently appointed FTI Consulting as receivers and managers over the corporate entities operating the Cue and Veronika Maine brands, including Cue & Co Pty Ltd and associated New Zealand subsidiaries. The dual appointment follows a failed corporate sales process initiated by UK-based owner Hilco Capital, which acquired the business from the founding Levis family in 2025.
Financial disclosures reveal that while Cue’s annual revenues climbed from $98 million in fiscal 2024 to $103.2 million in fiscal 2025, and net losses narrowed from $14.1 million to $5.1 million, UK parent firm Hilco deemed the financial improvements insufficient to cover heavy corporate overhead costs. During the turbulent sales period leading up to the administration, the company also experienced leadership departures with the exits of both its chief executive officer and chief financial officer.
Fast-Tracked Sale Campaign and Prospective Buyers
Despite the operational headwinds and recent store closures, FTI Consulting has launched a fast-tracked sales campaign to market the fashion brands as going concerns ahead of a scheduled creditors’ meeting. Receivers noted that there is healthy initial interest from prospective buyers, with formal expressions of interest anticipated in early October 2026 to determine the future ownership structure.
Market reports from Inside Retail indicate that major Australian retail players, including Myer, Brand Collective, and the Oroton Group, have emerged as potential suitors. Both Brand Collective and the Oroton Group have reportedly conducted primary due diligence on a potential acquisition as the receivers race to secure ongoing employment and long-term viability for the iconic workwear brand.