Stax owners offer glimmer of hope to the thousands of customers left out of pocket following activewear company's $23.7million collapse

Don Robertson and Matilda Murray have apologised to 'everyone adversely impacted' following the collapse of their multimillion dollar activewear brand, Stax. 

Don Robertson and Matilda Murray, who founded the label in Perth in 2015, posted a lengthy statement to Instagram late on Monday evening, offering hope to loyal customers who lost money while admitting they made many mistakes as business owners. 

'I've written so many drafts of this and tried to say it in a video but I couldn't get the words out,' Don began in the first of four slides.

'As many of you know, the business entered receivership. Through that process, the brand and business have now been sold to new owners.

'This has been one of the most painful and confronting experiences of our lives.'

'Til and I built this brand from the ground up, gave it everything we had and genuinely believed we would be part of its future,' he continued. 

'We are still processing the shock and grief of losing something that meant so much to us for over 10 years. But we also know this isn't only about our pain.

Robertson went on to admit that, as the founder and leader of the business, he 'made decisions that shaped its direction' and that 'some worked and some ultimately didn't', but said he always tried his best.

'I am deeply sorry to everyone adversely impacted,' he continued, before acknowledging Stax customers who spent their hard-earned money purchasing items that never arrived in the mail. 

'We would never have knowingly accepted those orders if we believed the business would not remain in a position to fulfill them,' he said. 

'But we understand that our intentions do not erase the disappointment or frustration people experienced. Your trust matters to us, and we are genuinely sorry that our chapter ended this way.

Robertson then offered a glimmer of hope to the company's loyal customer base.

'We have put forward a proposal to support the fulfilment of customer orders placed before the receivers were appointed,' he wrote. 

'The outcome is not within our control, and we cannot make any promises, but it was important to us to do everything we reasonably could to support those customers.' 

Robertson ended his post with an outpouring of emotion. 

'There are things I wish I had done differently, and there are lessons I will carry with me for the rest of my life, both personally and professionally,' he wrote. 

'While it's incredibly painful to say goodbye, we genuinely wish the new owners and the brand every success in this next chapter.

'To our team, our customers, our suppliers and every person who believed in us, thank you,' he added. 

'I know one post cannot repair everything or restore trust overnight.

The staggering debt owed by collapsed Aussie activewear brand Stax has been revealed by new liquidator documents.

The latest report from joint liquidators Brian Silvia and Michael Hird of Cascap Advisory shows the once high-flying retailer owes a staggering $23.7million to creditors, including more than $450,000 in unpaid staff entitlements.

Stax was placed into receivership in June before entering liquidation in July.

The business grew into one of Australia's biggest activewear success stories, recording annual turnover of more than $30million at its peak. 

According to the report, National Australia Bank is the company's largest secured creditor, owed more than $7.3million, while financier Bizcap is owed almost $1.9million. 

However, liquidators warned Bizcap is unlikely to recover its debt because NAB's claim takes priority.

The documents also reveal employees are owed more than $450,000, including unpaid wages, annual leave, redundancy entitlements and superannuation. 

One staff member is reportedly owed more than $78,000.

Customers have also been caught up in the collapse, with almost 13,000 shoppers collectively owed around $1.7million for unfulfilled or only partially completed orders.

Liquidators say there are 11,182 outstanding orders worth more than $1.4million, along with a further 1,745 partially fulfilled orders valued at more than $308,000.

There is about $1.18million worth of stock remaining, although almost $972,000 of it is being held by third-party logistics provider Shiparoo, which is itself owed about $400,000 and has placed a lien over the goods until its debt is paid. 

Another shipment worth around $100,000 remains with a Chinese manufacturer.

Liquidators said the coming weeks will determine whether any of the remaining inventory can be used to fulfil outstanding customer orders.

Stax was founded in 2015 and quickly built a loyal following through its inclusive sizing and celebrity endorsements, eventually operating multiple retail stores including a flagship location at Westfield Sydney.

At its peak, the business employed around 140 people.