New Zealand cosmetics brand Kester Black, founded by Anna Ross, entered voluntary administration due to trading losses and tax liabilities, leading to liquidation and asset sale to Ross's partner's company.
New Zealand cosmetics brand Kester Black, founded by Anna Ross, entered voluntary administration in July after raising over AU$2 million from investors in 2021. The company faced trading losses and tax liabilities, leading to liquidation and the sale of its assets to New New New Pty Ltd, owned by Ross's partner Fergus Sully. Investors are frustrated over poor communication and transparency, fearing their funds were misused, leaving them with no returns.
September 04, 2024
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