Cue and Veronika Maine placed under administration as costs overwhelm owners

Cue Clothing Co, the operator of the Australian premium womenswear labels Cue and Veronika Maine, entered administration due to mounting overhead costs that eclipsed recent sales growth. Receivers from FTI Consulting, Kate Warwick and Vaughan Strawbridge, have been installed to manage the company's affairs, and BDO’s restructuring team, led by Duncan Clubb and Shaun McKinnon, will act as voluntary administrators. The two brands together operate 51 stores nationwide.

A statement from the receivers noted that despite improvements in revenue, the financial strain remained too great to sustain operations. The business will remain open to customers while the administrators assess restructuring options and seek a buyer for the assets. Further updates are expected as the process unfolds.