Friday, February 23, 2024

Huge blow to Australia’s celebrity eyebrow queen Kristin Fisher as socialite’s business plunges into administration

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  • Kristin Fisher Eyebrows in administration
  • Company owed $900,00 to creditors  

Celebrity eyebrow queen Kristin Fisher’s business Kristin Fisher Eyebrows has plunged into administration after the company revealed it owed $900,000 in debt.

Documents filed with the corporate regulator ASIC said administrators were appointed to the businss on November 30.

It comes months after a restructuring practitioner, Mervyn Kitay of forensic accountants Worrells, was appointed to the business, based in Sydney‘s eastern suburbs, in June.

Kristin Fisher, who owns Kristin Fisher Eyebrows in Sydney ‘s ritzy Double Bay, was forced to hire a restructuring specialist from forensic accountant firm Worrells to help resolve her business’ mounting debt 

The Australian Taxation Office, which is one of the major creditors and is owed personal taxes by Ms Fisher, voted against a plan to restructure Kristin Fisher Eyebrows. 

Ms Fisher, whose services cost from $40 to $1600, has a salon in the exclusive suburb of Double Bay.

Her website boasts she is ‘responsible for sculpting and perfecting the brows of Sydney’s elite style and celebrity set’.

The business offers brow services such as waxing, shaping, threading, lamination and tinting, as well as eyelash lifts and tints and LED light therapy sessions. 

It has over 45,000 followers on Instagram. 

Under the restructuring plan, submitted to the Australian Securities and Investments Commission, $216,000  would have been repaid this year with outstanding debt to be paid at a later date. 

Administrators Jeremy Nipps and Rahul Goyal of Cor Cordis had been appointed to the business.

They posted notification that a creditors’ meeting would be held on December 12.

For the meanwhile the administrators have determined the business remains viable, and it will continue to operate with all staff to stay on and booking as well as gift cards to be honoured.

A report by Mr Kitay said Covid restrictions and the break up of Ms Fisher’s marriage had been ‘calamitous’ for the business.

‘The combined effects of Covid (including lock downs) and the matrimonial breakdown, exacerbated by a lack of financial advice, resulted in the business becoming the primary source of funding for both its affairs and that of Ms Barnes personally,’ Mr Kitay wrote. 

Mr Fisher has been contacted for comment

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