Aussie activewear brand Stax is saved by last-minute deal - but customers still want to know one question

By KYLIE STEVENS, SENIOR BREAKING NEWS REPORTER, AUSTRALIA Published: 06:35, 10 August 2026 | Updated: 06:35, 10 August 2026 An embattled Australian activewear brand once adored by A-list celebrities will relaunch following an 11th-hour lifeline. Stax was plunged into receivership in June, owing $23.7million to creditors, including more than $450,000 in unpaid staff entitlements and $7.3million owed to NAB. Thousands of customers were also left out of pocket over unfulfilled and partially incomplete orders worth $1.7million. The company was wound up and entered voluntary administration days later. It was announced on Monday that Stax has been bought out by a private Australian investor group led by Justin Truong and Sandy Li-Truong, the husband-and-wife entrepreneurs behind e-commerce marketplace Pushas. While online sales remain unavailable, Stax's social media pages teased a relaunch in the coming months. The new owners have acquired the brand's trademarks, design intellectual property, and digital assets for an undisclosed sum. They stressed they're not responsible for unfulfilled orders under original co-founders Don Robertson and Matilda Murray, raising questions on whether customers will receive their items. Australian activewear brand Stax has been rescued from the brink of collapse. Pictured is influencer Anna Paul modelling the brand Stax has been bought out by a private Australian investor group led by Justin Truong and Sandy Li-Truong (pictured) 'Stax remains one of Australia's most recognised activewear brands, with a loyal customer community and strong long-term potential,' Li-Truong said. 'Don and Matilda built something special: a fashion-forward activewear brand centred around the belief that every body is a Stax body. 'Our responsibility now is to earn the trust of the Stax community. That starts with bringing in a team that can rebuild the business on strong foundations, invest in quality and deliver the experience customers expect from the brand.' Her husband has been appointed as the new chairperson and is hunting for a new chief executive who will be in charge of the day-to-day operations of Stax. 'This is such an iconic Australian brand that we want to give it another chance. It could have been sold off to a faceless corporation that could strip it for parts,' Truong said. 'We have enormous respect for the community the founders built over the past decade. 'Although legal responsibility for orders placed with the previous entity did not transfer to the new ownership, we recognise the impact on affected customers and are actively exploring meaningful ways to support them as the brand relaunches.' He also hinted that former Stax staff could return to the fold. Sandy Li-Truong (left) and Justin Truong (right) are the co-founders of Pushas, an online marketplace for second-hand sneakers The final two Stax stores closed last month when the company went into liquidation Are you pleased that Stax has been given a lifeline? What's your view?'It won't be an entirely new team,' Truong told Nine newspapers. 'We'll see who in the previous team we'll bring back. It's good to have continuity.' The sale was facilitated by FTI Consulting receiver Asjadi Hone.  'This is a great outcome for the brand to restore trust with its large and loyal customer community across Australia,' she said. 'The new owners will appoint a team to focus on rebuilding the brand while maintaining the product quality, inclusivity and community connection that has defined Stax since its launch The acquisition will operate as a separate entity to Pushas, an online marketplace for sneaker resellers founded by Truong and his wife in 2017.  Within five years, the Truongs had been named in the Forbes 30 Under-30 List. Founded by Robertson and Murray, Stax began in a Perth bedroom in 2015 and relocated to Sydney four years later to expand their business empire. Stax co-founders Don Robertson and Matilda Murray recently apologised to customers who had been left out of pocket 'This is such an iconic Australian brand that we want to give it another chance,' new Stax co-owner Justin Truong said The company's worth peaked at $52million, which put the couple on the Australian Financial review's 2022 Young Rich List. Stax drew strong support from around the world, with US celebrities such as Jennifer Lopez, Lizzo and Megan Fox praising the clothes. Rita Ora, Hailey Bieber and Addison Rae are also among the high-profile customers who have worn the clothes. Stax once operated eight stores but closed all but two of them last year due to rising interest rates. Robertson and Murray issued a grovelling online apology to impacted customers last month. 'First and foremost, we're truly sorry for this and for not communicating earlier,' the couple began. 'Stax was built over more than a decade with an incredible community and knowing that so many of our customers have been impacted is something we carry every day. 'I know that doesn't change the frustration or disappointment so many of you are feeling. 'If you placed an order and haven't received it, we completely understand why you're upset. 'Decisions regarding outstanding orders and the administration of the business are now being managed through that process. 'Thank you as well to those who have shown us kindness during what has been the most difficult chapter of our lives.'