Cult Australian streetwear brand enters liquidation
A popular Australian streetwear brand has collapsed into liquidation.
Geedup Co was founded in western Sydney in 2010 and developed a cult following.
The brand was launched by Jake ‘Paco’ Catley. Louie Douvis
Robert Woods from Deloitte has been appointed as the liquidator of the brand, which operated under the company Expialidocious Investments Pty Ltd.
A spokesperson for Deloitte declined to comment when contacted by nine.com.au.
A liquidation notice was published on the Australian Securities and Investments Commission website this week.
Geedup was launched by Jake “Paco” Catley, who was on the Australian Financial Review’s Young Rich List in 2023 after the company made a major splash in the business scene.
The brand has largely operated as an online-only retailer, with customers across Australia and the world.
However, in 2014 Catley decided to set up a stand-alone store in Parramatta but later closed the physical shop in 2016.
“It probably cost us more than what we ever made,” Catley told the AFR in 2023.
The business has attracted strong interest from customers with its limited-edition and exclusive drops.
Nine.com.au has contacted Geedup for comment.
Catley made headlines earlier this month after his house at Burraneer in Sydney’s south was firebombed.
He was inside the house at the time with his daughter.
“It all transpired without us knowing,” he told 9News.
Geedup Co is not the only Australian retailer to face challenges recently.
Activewear brand Stax was placed into receivership this week, just four years after its founders were named on the AFR Rich List.
Consulting firm FTI announced the brand, which was founded by Don Robertson and Matilda Murray, had receivers and managers appointed on Wednesday.
The brand was at one time touted as a $52 million business.
Meanwhile, popular craft retailer Lincraft announced it is set to close all of its physical stores after more than 80 years in business.
The brand has more than 60 stores across Australia and New Zealand.
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