Stax Saved From Bankruptcy | Australia News

Stax, the once-hot activewear brand teetering on collapse, has been rescued by an Australian investor group led by Justin and Sandy Truong — the same duo behind Pushas. They’ve snapped up the brand’s trademarks, tech, Nandex fabric, and digital assets out of receivership, turning a potential write-off into a fresh start. After going into voluntary administration in June and officially liquidating by July, Stax was drowning — owing $6.7 million to staff and creditors, and $1.7 million to nearly 13,000 customers with over 11,000 unfulfilled orders. But the new owners are rewriting the ending: they’re committing to fulfill every pending order, honoring the community the founders built — even though legally they weren’t required to. This buyout gives Stax a second chance, but whether it can rebuild trust and reignite its momentum remains to be seen. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/780bc72165c8b233