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 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 told 9news.com.au in a statement.

“The Dion Lee brand has built global recognition and credibility in the world of high fashion.

“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.”

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.

“The Dion Lee brand is one of a handful of Australian fashion labels that has been able to break into
internatinal markets in recent years and there is no doubt as to the high creative regard in which it
is held,” Resnick said.

“However, until we progress our administration process it is too early to comment in any detail on its
current financial position other than to say our intention at this time is to operate the brand as a
going concern.”

Australian high street brand Cue had a stake in the company but has withdrawn its investment.

“After a recent strategic review, a decision has been made by the Cue Group to focus on our local Cue and Veronika Maine operations,” a Cue spokesperson told 9news.com.au.

It is understood Cue’s exit accelerated the voluntary administration of the Dion Lee label.