FASHION Council WA says it is time for a “fresh start” after Perth Fashion Festival put itself into administration while reportedly owing close to $1 million to creditors.
About 104 creditors and suppliers to WA’s premier fashion event are still owed $819,000 in unpaid invoices.
Administrator Hall Chadwick was called in this week to assess the financial position of Perth Fashion Festival Pty Ltd after company directors Mariella Harvey-Hanrahan and Tony Sage placed PFF into voluntary administration.
“As joint directors of the Perth Fashion Festival Pty Ltd, we have been trying to secure a repayment agreement with all PFF creditors for some time,” they said in a statement.
“Unfortunately, this has not been achievable as a small number of creditors were not prepared to enter into a payment agreement and funds that are owed to PFF by a major debtor have, as yet, not been received.”
FCWA responded with a statement, saying the council was disappointed that Perth Fashion Festival Pty Ltd has put itself into administration and understands the consequences this will have for suppliers the company owes money to.
“In the council’s view, it is now time for a fresh start,” FCWA said in a statement.
“Going forward, FCWA will operate independently of Perth Fashion Festival Pty Ltd. FCWA will not be using the PFF or Swim + Resort brands.
“FCWA recognises the importance of major events for designers and creatives and the WA fashion industry.
“Industry consultation will now take place to determine exactly what designers, retailers and other fashion stakeholders want from future FCWA run events.”