Julie Stevanja once attracted a $30 million valuation on the Financial Review Young Rich List, but her Stylerunner activewear empire was put into receivership on Wednesday.

In a sign that tough retail conditions are extending to the e-commerce space, Sydney-based Restructuring Solutions was appointed receiver of Stylerunner – which former investment banker Stevanja co-founded in 2012, and claimed last year to be turning over $50 million annually – in a deed with Delaware-based debt funder Partners For Growth.