Aussie Soles expected to owe more than $1m to creditors in collapse
A collapsed footwear company, which began more than twenty years ago on the Sunshine Coast, is expected to receive creditor debt claims in excess of a million dollars, it has been revealed.
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A collapsed footwear company, which began more than twenty years ago on the Sunshine Coast, is expected to receive creditor debt claims in excess of a million dollars, it has been revealed.
Aussie Soles Holdings Pty Ltd was placed into voluntary liquidation last week, with the director, Craig Taplin, citing the lingering effects of Covid-era supply chain issues as a major contributor to the company’s downfall.
The company operated the well-known shoe brand, Aussie Soles.
The footwear supplier first started out on the Sunshine Coast at the Eumundi Markets before moving into a Coolum Beach warehouse in 2011 and eventually supplying to stockists across the country.
Liquidator at Dissolve, Clifford Sanderson, was appointed to the company on April 22, 2024.
Mr Sanderson said the liquidation was “early days” but the current estimated debt was expected to be more than $1m, with three creditors already lodging debt claims.
“So far, I have received claims from three creditors for a total of $568,368,” Mr Sanderson said.
“The director has advised verbally that he expects creditors claims to be in excess of a million dollars.”
Mr Taplin previously told this publication the company lost an estimated $500,000 in the 2020/21 financial year after a particularly tough summer period, which continued to have knock-on impacts up until the liquidation.
“We lost half a million dollars in revenue in the 2020/2021 financial year,” Mr Taplin said.
“Even now it hasn’t been a great summer at all for retail, it is not just Aussie Soles, I think it is everywhere.”
Mr Sanderson said a report to creditors outlining the debts and findings of his investigations will be published to the Australian Securities and Investments Commission on July 22, 2024.
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