Despite its financial difficulties, the directors had continued trading while looking to sell the business. However, the recent Gympie Terrace flooding due to the heavy rains caused the business to close for a day or two. Due to unsuccessful efforts to sell the business, and given the temporary closure, the directors made the decision not to reopen and appoint a liquidator. Madmegs and Co closed down on December 11 after financial challenges due to COVID-19 and a flooding event. Mr Archer said the business had a small number of staff, all who were paid their entitlements prior to liquidation. Mr Malone and Damir Mikletic were the directors of the business.
A plus-sized lingerie company has come under fire for continuing to sell products and gift vouchers online just days before the business abruptly closed.
Queensland-based lingerie business Big Girls Don t Cry Anymore announced on its website this week it would be shutting, leaving 50 employees out of a job just days before Christmas.
It is understood the company increased its online advertising in the lead up to its closure, promoting discounts and vouchers despite its looming demise.
Many customers have been left fearing they won t be able to get their money back for their purchases as the company owes creditors about $2 million.
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Subscriber only CUSTOMERS scrambling to get ordered products or refunds from failed Brisbane lingerie business Big Girls Don t Cry (Anymore) have been warned some will miss out. Liquidator Jarvis Archer, of Revive Financial, said he was still determining the extent of unfilled orders and unclaimed gift cards sold by the business. We understand a large stock shipment was received last week, and many orders were subsequently fulfilled prior to liquidation, said Mr Archer. For a business of this size, we expect that there will unfortunately be customers who are impacted by the liquidation. The 28-year-old Virginia-based company collapsed earlier this week owing creditors an estimated $2.2m and leaving 50 people out of work.
50 jobs lost and $2m owing as lingerie retailer goes bust A popular bra shop has gone bust leaving 50 staff out of work just before Christmas. The tragic story behind its demise can now be revealed.
Business by Glen Norris
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Subscriber only An iconic Brisbane-based lingerie business for plus-sized women has gone bust owing creditors $2m and leaving more than 50 people out of work just before Christmas. Big Girls Don t Cry Anymore, founded in 1992 by Karen Mason, operated from a shopfront at Virginia selling bras and swimwear for women sized up to 36. Ms Mason, who describes herself as well-endowed, said she started the business because she was sick of the frustration and tears caused by the way that larger women were ignored by mainstream lingerie manufacturers.
Motivational speaker facing grief after winding up company A motivational speaker is facing a heap of grief after pulling the plug on his trading company.
Business by Anthony Marx
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Subscriber only From the moment he was born 51 years ago and thought unlikely to survive, John JC Coutis has coped with plenty of hardship in his life. But now the Gold Coast-based gent, who describes himself as Australia s number one inspirational corporate and schools speaker, is facing a heap more grief. Coutis, a double amputee with spina bifida known for zipping around on a custom-made skateboard, just pulled the plug on his trading company.