A multi-million dollar activewear brand adored by A-list celebrities is on the brink of collapse after it was placed into receivership.

Stax, which was founded by Rich Listers Don Robertson and Matilda Murray, appointed receivers and managers on Wednesday.

The activewear brand began in a Perth bedroom in 2015 and experienced a stratospheric rise over the next decade.

Its worth peaked to around $52million, putting the couple on the 2022 Young Rich List. 

Stax was forced to close several stores in 2025 and now has two boutique venues in Sydney and Liverpool.

‘Stax is a well-known Australian brand with strong customer support,’ receiver and manager Joseph Hansell said.

‘Stax has done something genuinely impressive, proving that premium activewear does not have to choose between performance and style.

‘The business is trading as usual while the receivers undertake an urgent assessment of the company’s operations.’

Stax, which was founded by Rich Listers Don Robertson and Matilda Murray, appointed receivers and managers on Wednesday

Stax was born out of the spare room in Don’s mum’s house where they packed orders for months before moving to Matilda’s dad’s house and worked from the living room.

For the first couple of years Don was crippled by the fear of failure looming in the back of his mind but he was determined to succeed.

‘It was truly tunnel vision and I had to figure out a way to make it work rather than focusing on the massive sum,’ he said.

The couple took ‘every opportunity’ to show off the brand in public spaces by working with local influencers, taking photos outdoors and selling stock at local markets – all while working full-time.

more to come