This year marks the labels 10 year anniversary and after an impressive decade, it's still not enough.
It simply proves that the industry is tough and it's not for the faint at heart. Nobody is immune to the unexpected difficulties that are thrown when building a fashion empire.
In recent years we have seen Collette Dinnigan close her doors, Sarah-Jane Clarke and Heidi Middleton leave Sass & Bide, Alannah Hill, Lisa Ho, Bettina Liano, Ksubi, George Gross and Harry Who all walk away due to financial challenges.
There are obviously a number of factors that come into play which causes these rough waters including the Australian dollar, the high price of production and the threatening competition of fast retail fashion.
With international high street brands landing in Australia such as H&M, Topshop, Forever 21, Zara, UNIQLO and the Gap it is clearly a daunting time for our local, independent fashion designers.
For Josh Goot, business will go about as normal until further decisions are made. But it proves that it's important that we continue to support our Australian fashion industry during these difficult times.
We have our fingers crossed for Josh Goot in hopes that he can recover quickly.