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Article: Fed: Future of fashion label depends on US backing
- Article from:
- AAP General News (Australia)
- Article date:
- July 4, 2002
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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 ...