Lime Door Brands, the Australian company that manages Shane Warne’s underwear brand, Spinners, and is behind burlesque star Dita Von Teese’s new lingerie line, has gone into voluntary liquidation.
The firm reportedly held a creditor’s meeting yesterday but is yet to release a statement regarding the future of the company.
Chief Executive Michele Hamdorf, a retail veteran of Target, Myer and David Jones, told International Business Times that the voluntary liquidation was not a reflection on the company’s performance but was a result of a disagreement between Hamdorf and three unnamed seed partners over growth and international expansion plans.
She said: "I put Lime Door Brands into voluntary liquidation after an unresolved stalemate with my three key capital partners…. "I’ve been trying to buy Lime Door Brands out – the full equity of it – for the last six months, and we basically reached a position where we couldn’t agree to agree and given I want to move forward with full ownership of the company I made the decision to put it into liquidation."
The founder and CEO owns the biggest share of the company independently, but does not hold an overall majority.
"I have so much business to get on with and I needed to break the nexus," she added. "Shane’s well aware of it – it’s nothing to do with him or the Spinners brand… The brands are trading well."
Warne’s brand is sold in major retail outlets throughout Australia and negotiations have been ongoing about opening a store in the UK.
Spinners won an award from the Australian Marketing Institute just as the news regarding Lime Door Brand’s liquidation broke.