A luxury Australian wedding dress company loved by A-listers has collapsed into insolvency, with administrators now urgently exploring options to restructure or recapitalise the business.
Pallas Couture, which has a flagship studio in Sydney’s ritzy suburb of Paddington and is sold in the world’s most exclusive bridal stockists, was placed into administration last week.
The bespoke label, which has been featured in Vogue Australia and British Vogue, makes couture gowns starting from $23,000 and is sold across the globe including in Belgium, Italy, Germany, London, Los Angeles and New York.
Insolvency experts from Cor Cordis Jeremy Nipps and Thomas Birch have been appointed administrators.
A Cor Cordis spokesperson said Pallas Couture, which is housed under the company name Evercentre, made the decision to enter voluntary administration, signalling a “proactive step towards revitalising and restoring the business to a profitable state”.
“The process will allow for Pallas Couture to continue prioritising all brides and continue operations as normal, with no disruption to the business or any creation and delivery of gowns currently in production,” they said.
“During this transition, Pallas Couture remains dedicated to…