Stax activewear owners credit more than $1.7m to stranded customers
New owners of Stax will credit customers more than $1.7m. These credits are for orders that never arrived.
Stax fell into receivership in June, leaving almost 13,000 customers with unfulfilled or incomplete orders. A private investor group led by Sydney entrepreneurs Justin Truong and Sandy Li-Truong has rescued the brand.
Stax will give one-for-one credit for any orders that never showed up. Stax is not legally responsible for the lost orders.
But it chose to repay customers as a sign of goodwill. New chief executive Anna Cheng said the priority is showing loyal customers that Stax is back and running properly.
Customers have until June 30, 2027 to use their credit. The brand will relaunch as an online-only store in November with a new collection.
- Almost 13,000
- Stranded customers
- More than $1.7 million
- Credit amount
- June 30, 2027
- Credit expiry date
- $8.9 million
- Company balance sheet loss
Why it mattersCustomers stranded by the collapse get their money back. This sets a standard for how rescued companies should handle past failures.
AustraliaAustralian buyers who lost money on Stax orders will receive credit they can use when the brand relaunches.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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