Celebrity favourite Australian fashion label Dion Lee has appointed voluntary administrators, according to reports.
The company, which makes clothes worn by A-listers including Taylor Swift, Dua Lipa, Meghan, Duchess of Sussex and Kylie Minogue is now under the control of insolvency firm dVT Group administrator Antony Resnick.
Administrators will continue running the business as a going concern as he urgently "assesses all options" relating to the US business, the Sydney Morning Herald reports.
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The company has six shops in Australia and one in the US and also sells clothes online.
"We are in the very early stages of our administration process and our focus right now is on speaking with the Australian and US-based team and getting across all the relevant operational and financial data," Resnick said in a statement, according to the SMH.
"It is regularly worn by cultural icons and influencers. It is noted in the industry for its unique designs, all of which should attract both local and international investor interest,
"It is too early to comment in any detail on its current financial position other than to say our intention at this me is to operate the brand as a going concern."
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The company was founded by the designer in 2009 and famously created the uniforms for Sydney Opera House staff.
T-shirts start at around $200 and dresses run from $500 into the thousands of dollars.
According to reports, Aussie high street brand Cue had a stake in the company.
The withdrawal of Cue's investment exacerbated the voluntary administration of Dion Lee business, reports claim.
The administrators at dVT group, Cue and Dion Lee have been contacted for comment.
