Fashion label Dion Lee has entered voluntary administration for its Australian operations.
The unisex brand, founded in 2009 by Sydney-based designer Dion Lee, has six stores in Australia, one in the United States and is sold in 160 outlets globally.
"The Dion Lee brand is one of a handful of Australian fashion labels that has been able to break into international markets in recent years and there is no doubt as to the high creative regard in which it is held,” administrator Anthony Resnick of dVT Group said in a statement on Friday.
“However, until we progress our administration process it is too early to comment in any detail on its current financial position other than to say our intention at this time is to operate the brand as a going concern.”
The brand had won global recognition and credibility in the world of high fashion and was regularly worn by cultural icons and influencers, so should attract both local and international investor interest, Mr Resnick said.
The voluntary administration relates to its Australian-based operation, with Mr Resnick assessing its US operations as a matter of urgency.
A meeting of creditors would be put into place in the coming weeks, dVT Group said.
