News Now: To Be or Not Ksubi

It's been announced today that Australian cult label Ksubi has been placed into voluntary administration after months of struggling with financial difficulty. Designers Dan Single and George Gorrow remain committed to the brand, hoping to "achieve the best possible outcome" while continuing with business as usual.

The label has been a firm favourite amongst celebrities and stylistas both locally and internationally, with Kate Bosworth and Madonna as fans. Australian and New York stores remain open until accountants determine viability.