Seafolly, the Australian swimwear and beachwear brand, has a new chief executive, Brendan Santamaria. The company came out of four months of voluntary bankruptcy proceedings at the beginning of August. Avoiding liquidation, it was rescued by its owner, L Catterton Asia, through a settlement under which it repaid in full the debt owed to Seafolly’s only secured creditor, the ANZ Bank. Other creditors got less. The company’s new boss has more than 15 years of experience as a CEO. Most recently he led an Australian apparel and footwear company, Designworks, developing it into a major wholesaler. He previously worked for Everlast, Lonsdale and Disney. L. Catterton Asia, a private equity firm in which LVMH is financially involved, bought Seafolly in two stages between 2014 and 2018. Seafolly had a turnover of 112 Australian dollars (€68.9m-$81.5m) in 2019.