Sydney fashion label Suboo crashes into liquidation with more than $650,000 in reported debts

A star-loved Australian fashion label has entered liquidation, with documents reportedly showing hundreds of thousands of dollars in liabilities. Suboo Pty Ltd was placed into creditors’ voluntary liquidation on October 1, with Worrells’ Christopher Damien Darin appointed to oversee the company’s affairs. The appointment was formally recorded in an ASIC notice published the following day. The company described itself on LinkedIn as an international fashion label stocked in more than 300 premium boutiques across 17 countries, and sold through Farfetch, Bloomingdale’s, Saks, Shopbop and Revolve. The Sydney-based label, founded in Bondi by Sue Di Chio, built its reputation around bold resortwear, swimwear and occasion pieces. Suboo has been worn by a string of high-profile names, including Gigi Hadid, Kendall Jenner and former Bachelor star Brittany Hockley. According to an ASIC report cited by the Daily Telegraph, Suboo had about $655,000 in liabilities, including $140,232.89 owed to Shopify, $105,162.50 to e-commerce financier Wayflyer and $170,700 in employee entitlements. The reported creditor list also includes $60,909.41 owed to DHL, $58,299.49 to FedEx, $51,840.66 to garment producer Swell Ltd and $18,253.25 to Dongguan P & J Clothing Co Ltd. The same report puts Suboo’s assets at just $1,854.16 cash, $111,852 in stock and $2,389 in equipment, while the company was reportedly owed $108,507.36 by Rent the Runway and smaller amounts by other businesses. 7NEWS has contacted liquidator Worrells for further comment. Suboo’s website is currently offline, displaying a message saying it is “undergoing website maintenance” and will “be back online soon”. The collapse comes amid a difficult period for Australian fashion, with Cue Clothing Co, owner of Cue and Veronika Maine, entering receivership last month. The company has attributed the collapse to rising operating costs, global economic pressures and changes to the international fashion and retail landscape.