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Former high-flying fashion startup Mon Purse has collapsed after experiencing supply issues due to the COVID-19 pandemic, leaving its prominent Rich Lister investors and other financial backers in the lurch.
Mon Purse, founded by entrepreneur and former News Ltd advertising sales executive Lana Hopkins in 2014, appointed liquidators from Wexted Advisors on Tuesday and immediately ceased trading.
Lana Hopkins, who founded Mon Purse before leaving the business in 2018, says she is extremely disappointed to hear of its collapse.
Mon Purse allows buyers to design and monogram their own leather bags and accessories, a similar business model to custom shoe retailer Shoes of Prey, which collapsed in early 2019 costing investors millions.