Cue fashion brand to close five stores as receivers hunt for buyers
The 58-year-old Cue clothing brand will close five stores as it enters receivership. Receivers report strong early buyer interest.
Five Cue and Veronika Maine stores are closing. They are in Woden, Parramatta, Mosman, Melbourne Central and Armadale.
The brand entered voluntary administration this week. Receivers from FTI Consulting are continuing to operate the remaining stores while looking for buyers.
The firm said it has received good early buyer interest. Cue has strong brand recognition and positive market sentiment.
Formal expressions of interest from potential buyers are expected in early October. Staff from the closed stores may be moved to other locations in the network.
- 58 years old
- Brand age
- Early October
- Timeline for offers
Why it mattersEstablished Australian fashion retailers are closing or restructuring. This signals ongoing pressure in the sector. But strong brand recognition offers hope for continuity under new ownership.
AustraliaAustralian fashion retail continues to consolidate as established brands like Cue adapt to competitive pressures on the high street and changing consumer shopping habits.
Corroborated bybusinessnewsaustralia.com
✓ Claims checked against the source. checked 6 d ago
