Ksubi Goes Into Administration

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11th January 2010, 07:41pm - Views: 1013
Ksubi Goes Into Administration

Paul Billingham and Said Jahani of Grant Thornton Australia were today appointed as Voluntary Administrators of Australian fashion label, ksubi.

Ksubi (formerly known as Tsubi) was created in 2000, by directors Dan Single and George Gorrow. It currently employs 20 people across its three Australian company-owned stores: in Sydney's Bondi and Paddington and Melbourne's Armadale. It also operates a store in New York's Soho district and provides clothing to retailers around the world.

Paul Billingham commented:

"It is business as usual for ksubi. Our job is to try and preserve the inherent value of the business and we will be working closely with the directors and key stakeholders to do this. For the time being, all ksubi's stores will remain open."

Notes to Editors
Further Information
The Administrators are not available for further comment at this time. If you wish to receive future statements regarding this matter, please contact:

Ben Findlay, Horizon Communication Group
T 02 8572 5618 or
0404 157 121
Email [email protected]

About Grant Thornton Australia Recovery and Reorganisation services
From market-leading services for the owners of private businesses, to audit, insolvency and restructuring for corporations, Grant Thornton Australia helps businesses realise their full potential. The national R&R practice has doubled in size over the last year, supporting clients from all sectors as they adapt to changing market conditions. Recent high-profile appointments include Rubicon Asset Management, the Nepean Motor Group, Seiza Mortgage Group, Aquarium Industries and Teson Trims.

SOURCE: Grant Thornton


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