James Stewart and John Lindholm were appointed Administrators of Steve Madden (Aust) Pty Ltd and pursuant to Section 436A of the Corporations Act 2001 (“the Act”) on 16 July 2009.

Steve Madden sources, markets and sells fashion-forward footwear brands for women, men and children. The Company distributes branded product through its retail stores, outlet stores, website and concession stores throughout Australia.

The Company has 9 Company stand alone retail stores, 17 concession stores with Myer and 8 outlet stores (DFO’s) with Head Office based in North Melbourne, Victoria.

The Voluntary Administrators are currently continuing to trade the business.  Despite significant interest received as a result of a intensive and targeted marketing campaign to sell the business and assets as a going concern, no interested parties proceeded beyond the due diligence process.  In light of the above, the Administrators have now implemented a closure programme to realise the existing stock on hand and other assets. 

 

A second meeting of creditors has been convened for Thursday, 20 August 2009, and will be held at the offices of Ferrier Hodgson, Level 29, 600 Bourke Street, Melbourne, Victoria at 9:30am.

A copy of the most recent report to creditors dated 11 August 2009 is now available and sent to all known creditors.  Should creditors wish to obtain a copy, please contact Mr Ben Kite of this office on (03) 9600 4922.