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Australian Streetwear Brand Geedup Enters Liquidation After ATO Action
Sydney streetwear brand Geedup has entered liquidation after the Australian Taxation Office secured a winding-up order against the company, with investigations uncovering alleged tax liabilities of A$2.2 million.
Sydney-based streetwear label Geedup has entered liquidation after the Australian Taxation Office (ATO) secured a winding-up order against the company, marking a dramatic fall for one of Australia's best-known independent fashion brands.
It followed a court application filed by the Deputy Commissioner of Taxation in March to wind up Expialidocious Investments Holdings Pty Ltd, the company behind Geedup, a business formerly known as Geedup Online Pty Ltd. The proceedings focused on, so it has been claimed, unpaid tax debts of a total of A$2.2 million.
Founded in a western Sydney garage in 2010 by Jake Catley, Geedup built a loyal following through limited-edition product releases and a strong online community. The brand also started creating hoodies, T-shirts, tracksuits, jackets, shorts, bags, slides and other street wear garments which helped the brand gain a national presence among the young consumers.
Rapid growth followed by financial pressure
Geedup's growth picked up following a transition to e-commerce. Back in 2019, it gave up physical retail and adopted an exclusively online business model by focusing on exclusive product drops.
The approach resulted in high level demand and quick sales results, with the company stated to be making sales of approximately A$20 m by 2023.
The model is limited release, however, industry observers have stated that this can create an extreme cashflow problem as businesses invest in inventory production much earlier than that of sales.
Failing to keep products on the market regularly started to become a financial burden for companies that were heavily dependent on the sales of their products.
Administrators appointed
On 30 April 2026, due to a pending Federal Court hearing, Geedup appointed Duncan Clubb and Mathew Blum of BDO as voluntary administrators of the company. The administrators took over the running of the business and started discussions with the creditors to determine the financial situation and restructuring possibilities of a business.
Creditor discussions are ongoing and the brand is now being run by insolvency practitioners. Those talks will help decide whether a Deed of Company Arrangement can be reached, or if its remaining assets can be liquidated.
The fall comes as a major blow to an Australian fashion company that went from a grassroots streetwear brand to a major success story in e-commerce.The demise is a big loss for a streetwear brand that turned into a top e-commerce success story for an Australian fashion brand and is a testament to the financial strain on consumer-driven companies in a tough retail climate.
Source: Smart Company
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