Aussie fashion brand Cue Clothing falls into receivership

Sydney-based fashion business Cue Clothing Co entered receivership on Tuesday afternoon.

In a statement, FTI Consulting, appointed as receivers and managers for Cue, said increased sales and other improvements across the group were not enough to offset the overhead costs.

The company, which was founded in 1968 and operates Cue and its sister brand Veronika Maine, will continue trading while the receivers assess the business and restructuring options.

A sale process seeking offers for the business would "commence immediately" to secure the future of the brands, according to FTI Consulting.

Duncan Clubb and Shaun McKinnon of BDO were appointed as voluntary administrators on the same day.