An Australian activewear company has collapsed and is up for sale after more than ten years in business.

Exoticathletica, a Queensland Sunshine Coast firm which sells colourful gear for women, had administrators appointed last month.

SV Partners is now looking for a buyer for the “much-loved” brand, which was launched in 2014.

“Exotic Athletica has encountered considerable hurdles in recent years, including shifts in top management and rising operational costs,” stated SV Partners in a release.

“However, these hurdles also present opportunities for growth and innovation, paving the way for a stronger and more resilient organisation.

“These circumstances led to the decision to go into voluntary administration, aiming to find a purchaser to sustain the beloved brand.”

The company is still trading. Offers on the website show 70 per cent discounts.

According to the company website, “Founder Leilani Chandler drew inspiration from Brazil’s vibrant fitness fashion, known for embracing feminine curves and daring designs that empower women to showcase their individuality.”

Chandler once told media she had earned $7 million in sales from one model of $49.99 top.

According to reports, 140,000 customers bought the bra top online between April 2020 and April 2021.

The brand once had a shop on the Sunshine Coast.

9News has contacted the company for comment.