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.

“In recent years, Exotic Athletica has faced significant challenges, such as changes in senior management and increased operational expenses,” SV Partners said in a statement.

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

“These factors contributed to the decision to enter voluntary administration, with the objective of identifying a buyer to continue the much-loved brand.”

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

”Founder Leilani Chandler became inspired by Brazil’s fitness fashion culture, their celebration of feminine curves and bold designs that encourage women to express themselves,” the company says online.

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.