September 15, 2026 — 4:53pm
Save
You have reached your maximum number of saved items.
Remove items from your saved list to add more.
AAA
Premium womenswear brands Cue and Veronika Maine have been handed over to administrators and receivers who are looking for a buyer to save the iconic 58-year-old business after it failed to overcome dwindling sales and mounting costs.
Founded in 1968 by Rod Levis and run as a family business for decades, Cue Clothing Co operates both Cue and Veronika Maine, which have a combined 51 stores across Australia.
Womenswear labels Cue and Veronika Maine have been handed over to receivers and administrators.
On Tuesday, FTI Consulting directors Kate Warwick and Vaughan Strawbridge were appointed as receivers of Cue Clothing Co, while BDO restructuring leaders Duncan Clubb and Shaun McKinnon have been appointed voluntary administrators.
“The receivers understand that notwithstanding the increase in sales and other improvements across the group, these were insufficient to mitigate the impact of overhead costs currently in the business,” said a statement from FTI Consulting.
The two brands will keep trading as receivers look at restructuring options and administrators seek buyers for the business. FTI Consulting declined to comment on Tuesday.
Inspired by London’s Beatles-era youth culture at the time, Levis founded Cue in 1968 and established Veronika Maine three decades later.
As Australian women began to enter the workforce in the 1970s and 1980s, Cue became a leading label for women’s corporate workwear and power suits, while Veronika Maine was later introduced as a more up-market label with premium fabrics and structured silhouettes.
Cue’s first store opened in Sydney’s Strand Arcade and became one of the first brands to establish the concession store model, joining Myer in 1970.
In late 2019, five decades of Cue designs were celebrated in a five-month exhibition in the Powerhouse Museum that showcased “strong-shouldered power suits of the 1980s to current outfits from the talented design team”.
Cue acquired a majority stake in now-collapsed designer label Dion Lee in 2013, but withdrew its investment in 2024 to focus resources on its own businesses. In May that year, Dion Lee’s administrators attempted and ultimately failed to find a buyer for the high fashion label worn by Taylor Swift, Gigi Hadid and Dua Lipa.
Related Article
In April 2025, Levis sold Cue Clothing Co to British investor Hilco Capital, which specialises in distressed or underperforming businesses, for an undisclosed sum.
Cue’s chief executive Melanie Remai was poached from Trenery to lead the business, but resigned after less than two years in the role, along with chief financial officer Josephine Barbaro, The Australian Financial Review reported.
Under Hilco’s ownership, Cue’s sales improved to $103.2 million in the 2025 financial year from $98 million the year prior, with losses reducing from $14.1 million to $5.1 million.
After the pandemic normalised working from home, tailored suiting became less popular in favour of more relaxed, casual clothing.
Shoe retailer Betts, which was founded 134 years ago and remains family owned, called in administrators in July and announced it was closing 20 stores to focus on its online business.
The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.
Save
You have reached your maximum number of saved items.
Remove items from your saved list to add more.
Jessica Yun is a business reporter covering retail and food for The Sydney Morning Herald and The Age.Connect via X or email.From our partners