More Cue Clothing and Veronika Maine stores to close as buyers line up with rescue bids

Receivers of popular womenswear brands Cue Clothing and Veronika Maine will close another 26 stores as they ready the collapsed retail empire for a possible sale.

The Sydney-based brands had 51 stores across Australia and New Zealand — including 42 boutiques and nine discount outlets, as well as concession stands in department stores Myer and David Jones — when it fell into administration on September 15.

Five stores closed just days later, with receivers noting improving sales had not been enough to save the business.

FTI Consulting’s Kate Warwick and Vaughan Strawbridge on Thursday revealed a “small” shortlist of potential buyers had put forward non-binding indicative offers, but it was still working through “commercial and transaction matters”, including the closure of more stores.

“As part of the sale process, parties were asked to identify the stores they would be interested in acquiring as part of any potential transaction,” Ms Warwick and Mr Strawbridge said.

“Based on the feedback received and the NBIOs submitted, there is a common group of stores parties have indicated they would not be seeking to continue with.

“As a result, 26 stores will be closed across both brands. There is no impact to the concession network.”

NSW will bear the brunt of the 26 closures, with four Cue stores and four Veronika Maine outlets to close, along with a combined store in Birkenhead Point.

Four stores will close in Victoria, three each in the ACT, Queensland and New Zealand and two each in WA and South Australia.

Ms Warwick and Mr Strawbridge said the closures would start immediate and the timing would vary by store depending on stock levels. Staff would be redeployed into continuing stores whenever possible.

The Levis family last year sold the chain to British distressed assets investor Hilco Capital, which specialises in turning around underperforming businesses.

But an improvement in sales could not offset higher overhead costs.

Australian fashion brands are having a tough time due to increased competition from fast fashion stores and online retailers like Shein.

Mosaic Brands — the owners of Katies, Noni B, Autograph and Crossroads — entered voluntary administration in 2024 and all its roughly 700 stores were shut down by receivers in early 2025.

Colette by Colette Hayman, which had 140 stores, entered administration in 2020 and emerged as an online-only retailer, with its handbags sold at David Jones.

Cue opened its first store in Sydney’s Strand Arcade almost 60 years ago.