Administrators Simon Cathro, Chris Cook and Ivan Glavas of Worrells Solvency Accountants announced the struggling brand was now in a position to honour the vouchers on Wednesday.

The about-face comes after many frustrated customers took to social media to express their fury at being left with useless vouchers after the business' collapse was made public last week.

Wollongong’s Napoleon Perdis store closed on Monday. The Shellharbour store remains open, at this stage.

"Due to the extremely successful sales campaign over the weekend (30 per cent off storewide and online) we are now in the position to honour all existing, valid Napoleon Perdis gift cards and e-vouchers," Mr Cathro said in a statement.

"Not only are we pleased to be able to make this decision for the benefit of customers with gift cards and/or e-vouchers, but we are delighted that this marks another milestone in the administration - demonstrating more evidence of the brand's value and market relevance."

Company directors had already tried to find a buyer for the struggling makeup brand for months before it went into administration on Thursday.

But the administrators say this weekend's successful sales push adds more value to any potential business sale as they begin the restructuring phase.

The cosmetics empire was created in 1995 by Australian makeup artist Napoleon Perdis, who started with a concept store in Sydney before expanding the company overseas in 2004.

The collapse of the company comes after the arrival of international beauty products competitors Mecca and Sephora.

Mr Perdis says he is working closely with the administrators at every point in the process.

"I was quick to weigh in on the decision to represent our customers and ensure they are looked after," he said in a statement on Wednesday.

"Today's decision reflects that the administrators are compelled by this passion to be a trusted and respected brand in Australia. And illustrates their confidence in our goals."

AAP