The owner of Jean Jones and Platform women's clothing chain is in liquidation owing almost $1.8 million and only six of its 22 stores remain open.
Gina and Keri Condon bought Jeans Jones out of receivership in 2010 but appointed liquidators to their company, Cozican Investments, last Friday.
Co-liquidator Amanda Atkins said the company had 22 Jean Jones and Platform stores and 14 were trading at the time of their appointment.
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The liquidators have closed a further eight stores and six are still trading while the liquidators asses the company's financial position.