Australian company buys out liquidated Bullzye business
Bullzye went into $1.5m liquidation in March, but the products might be back on the shelf soon
Business
Don't miss out on the headlines from Business. Followed categories will be added to My News.
BULLZYE lovers will soon see a return of the country clothing and accessories brand as Thomas Cook Boot and Clothing Co. has come in to save the day.
Bullzye went into liquidation in March with more than $1.5 million owing to unsecured creditors.
The liquidation saw the closure of the five physical Queensland stores, Rockhampton, Townsville, Toowoomba, Bundaberg and Mackay and the warehouse for online orders at Murrarie.
It has been announced this week Thomas Cook Boot and Clothing Co. has bought the business.
The price of this sale could not be disclosed.
READ HERE: HUGE ANNOUNCEMENT IN BULLZYE BRAND LIQUIDATION
Thomas Cook Boot and Clothing Co. is Australia's largest family-owned country clothing company.
Thomas Cook began making boots in Melbourne in 1924 and since then the brand has grown and is now under the guidance of grandson Murray Cook.
The business, along with its branded products from clothing, accessories and homewares, stocks other brands including Hard Slog, Pure Western, Froggers, Wrangler and Twisted X.
It will now add Bullzye to its range, buying the liquidated company in mid-2020.
READ HERE: AGRICULTURAL LIQUID FERTILISER MANUFACTURING SHED PROPOSED
READ HERE: INTERNATIONAL VISITORS STILL ON THE CARDS FOR BEEF 2021
Managing director Murray Cook saw the news of the Bullzye liquidation through The Morning Bulletin's article and approached the liquidators to purchase the company.
He said he paid the $1 to read the story and "it was the best $1 I ever spent".
"It's a brand I have always loved," he said.
"It great to take it into our fold and to manage it and get the brand back out there."
The company is now looking for wholesalers to stock the Bullzye brand.
There will not be a return of the physical stores.
"We are wholesalers to 1500 resellers throughout Australia," Mr Cook said.
"It's the business model we work on, we would rather support our resellers through our local towns and rather people shop in locals towns."
Mr Cook said the brand would expand.
Thomas Cook Boot and Clothing Co. has nine sales representatives who this week started showing the Bullzye brand to resellers.
The first stock of retail will be released in November.
The traditional range of Bullzye stock will be available from tees, singlets, tanks, mud flaps, stickers and more.
Mr Cook said buyers could expect more products come next year.
He also noted the products would be of higher quality.
"Our releases will be tweaked versions of what has been available in the past," he said.
"It's still the classic Bullzye product, logos, we've taken that DNA and just reproduced it."
Share tips: experts’ buy, hold and sell recommendations
A mixed bag of share tips this week has something for everyone, just like global financial markets last week. See their suggestions.
How ‘dumb luck’ launched a $1 trillion opportunity
Stonepeak founder Mike Dorrell was in the right place at the right time. But the highly sought after fund manager is rewriting the rules on infrastructure.