Bill Wavish buys Cue fashion brand after collapse
Former Myer chairman Bill Wavish has purchased Cue and its sister brand Veronika Maine out of administration.
Cue, founded in 1968, entered voluntary administration in September after financial trouble. The brand closed 26 stores in October, with staff potentially redeployed.
Wavish is a former Woolworths executive and Myer chairman. Wavish led a consortium to buy both Cue and Veronika Maine.
Wavish plans to run operations himself. He aims to rebuild Cue into a leading Australian fashion brand.
The deal offers hope to staff and fans after months of doubt.
Why it mattersAustralian retail jobs are on the line. A local fashion brand could either recover or disappear. It all depends on how the new owner performs.
AustraliaHundreds of Cue and Veronika Maine retail workers now have a clearer future, and the brands stay in Australian hands rather than being broken up or sold offshore.
