The owners of collapsed activewear brand Stax have revealed the past few weeks since appointing liquidators have been \u201cthe most difficult chapter\u201d of their lives. <\/p>\n
Stax, which sold activewear online and at two stores in Sydney, was placed into receivership in June and liquidators were appointed last Friday.<\/p>\n
In a lengthy post on social media on Tuesday, co-founders Don Robertson and Matilda Murray acknowledged that customers were \u201cfrustrated, disappointed and understandably upset\u201d that orders had not been fulfilled.<\/p>\n
\u201cI want you to know that we have heard you,\u201d their statement read.<\/p>\n
\u201cFirst and foremost, we\u2019re truly sorry for this and for not communicating earlier.<\/p>\n
\u201cStax was built over more than a decade with an incredible community and knowing that so many of our customers have been impacted is something we carry every day.\u201d<\/p>\n
The pair said with the company now in the hands of receivers, outstanding orders had to go through a process.<\/p>\n
\u201cI know that doesn\u2019t change the frustration or disappointment so many of you are feeling,\u201d they said.<\/p>\n
\u201cIf you placed an order and haven\u2019t received it, we completely understand why you\u2019re upset.\u201d<\/p>\n
They said customers should contact their credit card or bank to \u201cask about the options available\u201d, including a possible chargeback process.<\/p>\n
\u201cThank you as well to those who have shown us kindness during what has been the most difficult chapter of our lives,\u201d they said.<\/p>\n
The business appointed Brian Silvia and Michael Hird of Cascap Advisory as joint liquidators for multiple Stax entities.<\/p>\n
Last month, in a desperate bid to keep the business alive, the co-founders sold off retail stores and luxury vehicles, including a Lamborghini and a Porsche.<\/p>\n
Founded in 2015, and officially registered in Western Australia in October 2017, Stax grew from a grassroots label into a competitor to international heavyweights like Lululemon, Nike and Adidas.<\/p>\n
During its peak, the business had a turnover of more than $30m a year and employed 160 staff.<\/p>\n","protected":false},"excerpt":{"rendered":"The owners of collapsed activewear brand Stax have revealed the past few weeks since appointing liquidators have been…\n","protected":false},"author":2,"featured_media":800820,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99,115817],"class_list":["post-800819","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-au","tag-australia","tag-business","tag-newswire-business"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/800819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=800819"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/800819\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/800820"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=800819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=800819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=800819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}