Administrators of collapsed Australian apparel business Dion Lee have unearthed a bidder interested in reviving the brand amid revelations the fashion favourite survived off a $20 million loan from backer Cue Clothing in the two years before it folded.
One unidentified party has submitted a letter of intent, according to the second creditors’ report prepared by voluntary administrators Antony Resnick and Henry Kwok from dVT Group.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
