One of Australia’s largest swimwear and women’s fashion brands, Seafolly, has gone into voluntary administration.

The decision was due to “the crippling financial impact of the Covid-19 pandemic”, according to a statement by Scott Langdon of Kordamentha Restructuring, which was today appointed as the voluntary administrator.

Founded in 1975, the brand has 44 stores throughout Australia and 12 stores overseas.

For now, it’s business as usual for Seafolly customers while administrators assess the business.

“All Seafolly gift cards and the popular Beach Club Rewards points will continue to be redeemable at all Seafolly stores,” Langdon said.