Article: Fed: Future of fashion label depends on US backing

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Fed: Future of fashion label depends on US backing

By Jane Williams, Industrial Correspondent

MELBOURNE, July 4 AAP - The future of Australian fashion label Coogi relies on the support of US financier CIT Group Inc, administrators said today.

The Coogi group of companies was placed in voluntary administration yesterday with debts of more than $25 million.

More than 300 Australian workers could lose their jobs and may receive only a percentage of their entitlements if the company collapses.

Administrator George Georges, from Ferrier Hodgson, is flying to the United States on Saturday to talk to CIT Group Inc, financiers for Coogi's United States arm ...

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