Purely Byron, the skincare line co-founded by model and actor Elsa Pataky and supported by her husband, Hollywood actor Chris Hemsworth, allegedly and reportedly has gone bankrupt less than a year after its initial product launch.
While the website remains up, none of the skincare goods are accessible to buy, with the words “coming soon” showing in place of “add to basket”.
Cameron Gray and Justin Holzman of DW Advisory were appointed as administrators of Purely Byron Pty Ltd on Friday, according to documents filed with the Australian Securities and Investments Commission.
This month, troubled beauty giant BWX, which owns 47% of Purely Byron, wrote down the value of its shareholding by $2.8 million for the December half year.
When chief financial officer Efee Peell and chief executive Rory Gration left BWX in November and February, respectively, they resigned from the Purely Byron board of directors. They have not been replaced.
Pataky helped develop the skincare range using botanical ingredients from the Byron Bay region, which the famous couple has called home for most of the past decade.
“When I moved [here], I immediately felt connected to Byron Bay’s natural beauty,” she told Grazia magazine in the lead up to the launch in June last year.
“I started discovering all these natural botanicals, which are so powerful and clinically proven – they really work. I fell in love with all the different ingredients that grow here, so when the idea came about to make it happen with my co-founders, I was so excited,” she said.