Andrea Moore collapsed owing millions to creditors

Wednesday, 17 January 2018

Kiwi fashion designer Andrea Moore pictured in her Ponsonby Rd, Auckland shop in 2013.

Kiwi fashion label Andrea Moore collapsed owing more than $2.5 million.

The company went into liquidation and receivership on January 9, citing 'highly damaging' late deliveries, 'crippling' creditor payment defaults, and extensive roadworks for its downfall.

Andrea Moore opened a new store on Victoria St, Wellington late last year. Sale signs were up following the news of liquidation on January 9.

On Wednesday, the liquidators' first report was released, which outlined Andrea Moore's initial financial position. It showed the label owed about $2.54m to its creditors.

However, that figure did not include all creditors, so was expected to rise.

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The company's assets are yet to be calculated, so it remains unclear how many creditors would be paid all or part of what they are owed.

It would also depend on whether the company was sold.

Receivers are actively trying to sell the fashion business 'to anyone who wants to put an offer in'. All stores are continuing to trade in the meantime.

Retail analysts hoped the label would be bought and could carry on.

Andrea Moore has been in business since 1999. It has seven stores across Auckland, Wellington and Christchurch and employs 22 staff.

Since starting the business in 1999, Moore and the label's managing director, Brian Molloy, have navigated the ups and the downs of building a fashion brand in New Zealand, operating seven stores and closing some too.

Moore is the creative side of the brand, while Molloy handles the business side.