Australian swimwear label Tigerlily, founded in 2000, has been placed into voluntary administration after a steep drop in sales exacerbated by the coronavirus pandemic.

The label had 30 boutiques and an online store, with roughly 200 employees.

KordaMentha partners Scott Langdon and Jenny Nettleton were tapped as administrators on Monday.

"Mr Langdon said COVID-19 was a 'core reason' for Tigerlily's collapse, as the company had seen reduced sales since the virus was declared a pandemic," the Sydney Morning Herald reported.

"In the past fortnight, it had accelerated in terms of the tightening of the retail space and [the effect on] sales. It reduced the number of people coming through shopping centres, which reduced sales in an already challenging environment," the paper quoted Langdon as saying.

Tigerlily had rebranded in November, with a fresh new logo, packaging and website, the AFR reported.