Australian fashion label Ksubi has been placed into the care of receivers, Jirsch Sutherland.
News.Com.Au is reporting that the famous Aussie brand — founded by Dan Single and George Gorrow in 1999 — informed staff that they no longer had jobs.A Jirsch Sutherland statement advised: "Whilst there has been some necessary rationalisation of overheads including staff at head office, the companies are continuing to trade seven retail outlets throughout metropolitan Melbourne, Sydney and Brisbane, in addition to a popular online retail store.
"The companies are also continuing to operate a wholesale business, selling locally and internationally the three brands - Ksubi, Insight and Something Else," Jirsch Sutherland partner Andrew Spring said.
"We are continuing to trade with a view to identifying a purchaser for these businesses."
(Via News.Com.Au)
