Once a rising competitor to global athletic wear leaders Lululemon, Nike, and Adidas, Australian activewear brand Stax has left behind more than $6.7 million in unpaid debts after its sudden collapse this year, new regulatory filings have confirmed. The brand’s rapid downward spiral began in June, when National Australia Bank pushed the retailer into receivership amid growing financial pressure. In a last-ditch effort to keep the business operating, founders Don Robertson and Matilda Murray sold off the company’s retail store network and their personal luxury vehicles, including a Lamborghini and a Porsche, the effort ultimately failed. By mid-July, Stax formally entered voluntary administration, bringing its decade-long growth story to an abrupt end.
New documents lodged with the Australian Securities and Investments Commission (ASIC), the country’s corporate regulator, have laid bare the full scale of the company’s unpaid obligations ahead of its collapse. Of the total $6.7 million debt, more than $450,000 is owed directly to former Stax employees. One single staff member is owed nearly $78,600 in unpaid wages and entitlements, which break down into $89,209 in unused annual leave, $31,343 in long service leave, $63,556 in unpaid superannuation contributions, and $128,683 in promised redundancy payments across the entire workforce.
Beyond unpaid staff wages, unsecured creditors hold almost $6.3 million in outstanding claims from the failed retailer. Major domestic and international entities are among those waiting for repayment. Shopping centre operator Scentre Group, which manages Australia’s Westfield shopping centre portfolio, is owed more than $500,000 in unpaid rent for Stax outlets across New South Wales, including locations in Miranda, Liverpool and central Sydney. Other major retail landlords Highpoint, Karrinyup and Pacific Fair also hold unpaid claims, alongside contractors Affective Building Services and Flow Logistics. Google Australia is owed roughly $500,000 for digital advertising and business services provided to the brand. Two Chinese manufacturers — Jiaxing Sky Air Sports and Ningbo Mingna Garments — hold the largest individual claims, owed more than $1 million and $1.9 million respectively in unpaid production fees. The Australian Taxation Office is also outstanding $123,858 in business activity statement payments.
The current debt figures are drawn from director filings submitted to ASIC, and administrators note that final totals may shift once liquidators deliver their conclusive report in the coming weeks.
Last week, the Stax founders broke their months-long silence on the collapse in a public statement posted to social media, acknowledging widespread customer anger over unfilled orders. “First and foremost, we’re truly sorry for this and for not communicating earlier,” the pair wrote. “Stax was built over more than a decade with an incredible community and knowing that so many of our customers have been impacted is something we carry every day.” They added that with the business now under the control of receivers, customers with outstanding orders will need to follow the formal insolvency process to seek resolutions. “I know that doesn’t change the frustration or disappointment so many of you are feeling,” the statement said. “If you placed an order and haven’t received it, we completely understand why you’re upset.”
Founded in 2015 and formally registered in Western Australia in 2017, Stax grew from a small grassroots startup to become a major player in the highly competitive Australian activewear market. At its peak of operations, the brand recorded more than $30 million in annual turnover and employed a workforce of 160 people across its retail and head office operations.