The probe into the sacked Smiggle boss — which has uncovered stunning allegations of former executives being drunk during work hours, bullying, sexual harassment and bribery — may remain “an overhang for sentiment” in the business.

Analysts at investment bank Macquarie said the investigation into the alleged misconduct at Smiggle may also “make attracting new leadership more difficult” over the 2026 financial year.

Retail magnate Solomon Lew’s Premier Investments, the operator of Smiggle and sleepwear brand Peter Alexander, has been conducting a global search to replace John Cheston after he was sacked as Smiggle boss in last September for alleged “serious misconduct and a serious breach of his employment terms”.

No further details for his exit were given at the time.

But Mr Lew, durin

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