Two Australian fashion retailers go into administration

Two Australian fashion retailers, Cue Clothing Co and Barbeques Galore, have gone into administration, leaving uncertainty for their staff. Cue Clothing, which has been operating for nearly six decades, specializes in women's labels Cue and Veronika Maine. Established in 1968, the company has sold its clothes in over 50 stores across Australia, including department stores Myer and David Jones.

Despite a sales increase and other improvements, the company struggled with high overhead costs, leading to its voluntary administration. FTI Consulting and BDO, accounting firm BDO, have been appointed as receivers to find a buyer for the business, ensuring the preservation of jobs. Barbeques Galore, another Australian retailer, collapsed in June, leaving 500 workers unemployed after entering voluntary administration in February. Despite receiving multiple offers, no suitable buyer was found by late May.