The fashion industry's latest high-profile victim Lisa Ho pocketed nearly $200,000 in taxpayer subsidies before collapsing and jeans queen Bettina Liano was given $300,000 in innovation grants after going into voluntary administration, records show.

Another well-known women's fashion chain, Ojay, took $20,000 in government handouts just months before its financial woes tipped it into administration in September.

Fashion flop: Designer Lisa Ho received $188,731 in taxpayer subsidies before going into voluntary administration. Credit:Domino Postiglione

The taxpayer subsidies were part of a six-year $112.5 million federal government program to ''drive innovation and renewal'' in the textile and clothing industry.

An A-list of fashion labels applied for, and were given, $22.5 million last financial year, despite the severe retail downturn forcing many high-profile players to pack up their designer dress racks and head for the door.