Australian Luxury Fashion Giant Crumbles: You Won't Believe Which Designers Are Left Unpaid!

Hold onto your hats, fashionistas, because the luxury fashion world just took a wild turn Down Under! An Australian retailer with a jaw-dropping array of designer names has crumbled under the weight of $16 million in debts. You won’t believe the big names on the list!

For almost 40 years, Harrolds was the go-to destination for a taste of high-end glamour right in the heart of Australia. In its heyday, this family-owned empire rolled out major names like Tom Ford, Balmain, Saint Laurent, and Burberry across its Melbourne, Sydney, and Gold Coast stores. Even the Jonas Brothers graced its aisles earlier this year!

In 2020, Harrolds thought it was ahead of the game by launching an online platform, promising shoppers access to the crème de la crème of design houses. Fast forward to now, and it seems things have spiraled out of control with SMB Advisory stepping in as liquidators.

Celebrity designers aren’t getting their cash! Victoria Beckham's line is reportedly owed $30,000, while Tom Ford’s companies are chasing $33,000. Even Versace is on the list, waiting for a modest sum, and our beloved Stella McCartney is short by $853.

Employees haven’t been spared either, with over $190,000 in entitlements gone walkabout. Meanwhile, the ATO is fuming, with more than $2.3 million owing — yikes!

Despite recent closures in Sydney and Melbourne, Harrolds promised a “new chapter” with a fresh start at Westfield’s new development and an immersive experience for Melbournians. The website is hanging by a thread, teasing us with that mysterious new phase.

If you're gasping for more, catch these captivating tales of business chaos: Major company collapses after 34 years and Major Australian food company collapses. Harrolds may have seen its glory days, but fashion drama never goes out of style!