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[SITUATION] · [ACTIVE] · [BUSINESS]

2 clusters · 4 sources · 28 days · First seen · Last updated

Acquisition of Australian activewear brand Stax

Overview

The Australian activewear brand Stax entered liquidation in June 2026, placing approximately 160 jobs at risk after its lender, NAB, appointed receivers to recover $6.7 million in debts.

In August 2026, the brand was acquired in a rescue deal by a private investor group led by Justin Truong and Sandy Li-Truong, the founders of the online marketplace Pushas. The new majority owners intend to rebuild the brand's foundation and relaunch its operations following a period of website inactivity.

Entities

NAB · Pushas · Justin Truong · Sandy Li-Truong · Stax

Timeline

  1. 1 day ago

    [BUSINESS] 4 sources
    Stax acquired by Pushas founders in rescue deal

    Streetwear entrepreneurs Justin Truong and Sandy Li-Truong have acquired the Australian activewear brand Stax via a rescue deal following its collapse and $6.7 million in debt.

  2. 29 days ago

    [BUSINESS] 2 sources
    Stax, Australian activewear label, collapses into liquidation, 160 jobs at risk

    Stax, the Australian activewear brand, entered liquidation on June 24, putting 160 jobs at risk and leaving many customer orders unfulfilled; founders apologized and urged shoppers to seek chargebacks.

Sources

communitynews.com.au · insideretail.com.au · theage.com.au · watoday.com.au