Australian activewear cult brand Stax has been placed into receivership by the National Australia Bank, with FTI Consulting appointed as managers to reassess operations and recover amounts owed to creditors.

Founded in Perth by Don Robertson and his wife Matilda in 2015, Stax built a following through collaborations with local influencers and the fitness community as well as celebrity endorsements, including Jennifer Lopez, Lizzo, Hailey Bieber, Ashley Graham, Rita Ora, and Addison Rae.