Australian fashion retailer Cue Clothing Co and its sister brand Veronika Maine have collapsed into voluntary administration and receivership, putting hundreds of jobs and dozens of stores at risk across Australia and New Zealand. Staff were told of the decision on Tuesday afternoon, with FTI Consulting appointed as receivers and managers and BDO as voluntary administrators. Under receivership the business continues trading while secured creditors seek to recover debts through an asset sale, meaning the brands could potentially survive under new ownership rather than being wound up entirely, though the outcome remains uncertain.

Once boasting more than 200 outlets, Cue now operates just 51 stores, comprising 42 full-price shops and nine discount outlets, which will remain open as a sale process begins. British turnaround investor Hilco Capital, which bought Cue from its founding Levis family in April last year, said the appointment followed "a difficult period" despite efforts to restore growth. Cue's annual sales rose to $103.2 million from $98 million, while losses narrowed to $5.1 million from $14.1 million, but rising overheads and competition from fast-fashion giants such as Shein, Temu, Zara and H&M have squeezed the upmarket workwear specialist. The move follows the recent resignations of chief executive Melanie Remai and chief financial officer Josephine Barbaro within the same week.