Kiwi clothing brand Andrea Moore has gone into liquidation

Kiwi clothing brand Andrea Moore has gone into liquidation after almost 20 years in business, appointing receivers yesterday.

The company has seven stores across Auckland, Wellington and Christchurch and employs 22 staff.

Managing director Brian Molloy said stores would stay open while they worked through the issues.

"We're going to work through the stock and look at any potential to sell the business, keep it going or close it down," Molloy said.

"We've received lots of very very positive feedback from customers and shareholders who have said they would love to see the label continue."

Andrea Moore opened her first shop in 1999 in Wellington. Moore has handled the design side while partner Molloy managed the business side.

"Brian is the business side and I'm the creative side, and neither could do without the other," Moore said earlier.

"We have a close knit group of staff passionate about dressing fascinating women who live their lives to the full."

The brand was sold internationally in countries including Australia, Singapore, China and Korea.

In 2016, the Kiwi fashion label raised $750,000 through crowdfunding platform Snowball Effect to fund further expansion.

At the time, Moore said the company had "excellent historical earnings growth", with full year 2016 revenue of $4 million and Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of $300,000.

"We are forecasting continued growth in FY2017 with revenue of $4.8m and EBITDA of $600K," Moore said at the time.

"We haven't factored our Australian growth initiatives into our conservative forecasts, as it is our intention to over-deliver to our shareholders."

In a statement, receivers McGrath Nicol said "stores will continue to trade while they work with the directors to assess options for the company".

Interested parties were advised to contact the receivers.More to come.