Hug-a-Bub collapse: Baby sling maker goes belly up

The Sydney Morning Herald

16 June 2016

 

Here’s why the maker of a popular brand of baby carriers has collapsed into administration.

The maker of a popular brand of baby slings and carriers has collapsed into voluntarily administration under the weight of mounting debts.

Hug-a-Bub makes baby carriers, wraps and slings from organic materials, which it says bring out the best in babies and parents through physical closeness and increased mobility.

The Byron Bay company, founded 15 years ago by childbirth educator Suzanne Shahar and designer Tania Palmer, has developed a cult following among some parents and is distributed through over a hundred stores across Australia.

But customers’ accolades have not saved Hug-a-Bub from its debts, and the company called in administrators on Monday after becoming insolvent.

Hug-a-Bub’s administrator, Brendan Nixon from Stanley Morgan Accountants, said he had not yet identified what went wrong, but hoped Hug-a-Bub could continue to trade under different ownership.

Mr Nixon said he had identified about 20 creditors who he would notify, including financiers and the Australian Taxation Office.

 

Read the original article:

http://www.smh.com.au/small-business/finance/hugabub-collapse-baby-sling-maker-goes-belly-up-20160615-gpjhtp.html

accountants liquidation

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