Lisa Ho another fashion victim

  Famous designer Lisa Ho joined a growing list of Australian fashion retailers buckle under difficult trading conditions, the appointment of directors of the evil empire.

This week in the administration, less than a month after the task made Lisa Ho designs the goal of raising funds through an IPO in the National Stock Exchange for the continuation of private equity investments.

Discussions with potential investors, but as the documents with the Australian Securities & Investments Commission seem to show that the accounting firm HLB Mann Judd Administrator Lisa Ho designs became lodged standstill came to be - and its affiliates Lisa Ho detail - Wednesday under the provisions of Corporate insolvency law. The collapse is the latest hit in the fashion retail in Australia since the GFC and after the disappearance of Colorado, shoes Brown Sugar, Bettina Liano, Ojay and hypermarket.
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Local retailers are facing increasing pressure from overseas players, stores both on the internet and new brick and mortar.

Created by the designer based in Sydney almost 30 years ago, Lisa Ho brand has a term thanks to a number of celebrities who have seen their clothes regularly honor the red carpet at events like the first film, the Logies and AFI price.

The company operates 10 retail flagship stores, shop online and outlets of the concession of the David Jones chain.

According to the recent fundraising prospectus, the company had been profitable for many years, and he had a "seal of quality" sales do not experience the same level of decline as the clothing industry in general.

"However, the premium fashion is under pressure from online sales, such as the retail of fashion changes to the market's expectations and requirements, to reduce costs," the company has warning.

The accounts show that the company posted a loss of $ 2.4 million last year, according to "strategic mistake" was caused by too much clothing in spring / 2011 season and not enough for their Autumn / Winter neighbor beach.

Ms. Ho did not return calls yesterday, a spokesman David Jones declined to comment. However, it is assumed that all Lisa Ho stores and concessions to trade on. A creditors' meeting held 20 May be