Australian activewear company Stax, known for its popular black tights and fleece apparel and celebrity endorsements from figures like Lizzo and Jennifer Lopez, has entered administration. The company announced the decision on Wednesday, signaling significant financial difficulties. Administration is a form of insolvency unique to countries like Australia and the UK, involving an independent administrator taking control of the company to restructure or liquidate its assets. The move impacts the future of the brand and its operations. Details regarding the reasons for the collapse and potential restructuring plans have not yet been fully disclosed. The brand gained prominence through social media marketing and a focus on comfortable, stylish activewear.