The Australian Taxation Office has succeeded in its bid to wind up sydney streetwear brand Geedup, after investigations into the collapsed business uncovered alleged tax debts of $2.2 million.

Founded in 2010, Geedup built a cult following for its bold designs and limited-edition apparel, with some ‘drops’ selling out in just minutes.

Its success catapulted co-founder Jake ‘Paco’ Catley onto the Australian Financial Review‘s Young Rich List, with an estimated net worth of $98 million in 2025.

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The Deputy Commissioner of Taxation sought a winding-up order against Expialidocious Investments Holdings Pty Ltd, formerly known as Geedup Online Pty Ltd, in March this year.

Geedup Online Pty Ltd is the business associated with the brand’s online store, the primary conduit for consumers chasing its product ‘drops’.