Marquee Retail Group - Case Update

Marquee Retail Group, the Sydney-based owner of fashion brands Colette and The Daily Edited (tde.), has been rescued out of administration after creditors voted to accept a DOCA proposal that will see stores across Australia remain open and more than 400 jobs saved.

The companies entered voluntary administration on 2 April, citing rising interest rates, inflation and a downturn in sales, which caused issues with a debt arrangement with the ATO stemming from the COVID era.

Voluntary administrators Domenic Calabretta, Mitchell Ball and Richard Lawrence of Mackay Goodwin evaluated alternatives for the business, including offers to purchase it (or parts of it), and determined that the best outcome for creditors and staff was to accept the DOCA. There were fewer than 10 redundancies.