The man allegedly killed by a teenager during a house party has been identified as the co-founder of popular clothing shop Universal Store.

Greg Josephson, 58, was found critically injured with a stab wound at a home in Clayfield in Brisbane’s north, about 8.15pm on Thursday.

WATCH THE VIDEO ABOVE: Teenager charged with murder at Brisbane party

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Police were called to the home and a 15-year-old boy was taken into custody.

He has since been charged with one count of murder.

Josephson founded Universal Store with his brother Michael in 1999.

According to his LinkedIn, Josephson stepped down as founder and director of Universal in 2018.

The store, which stocks over 50 different clothing brands, made over $244 million in the year to June 2024.

Universal Store released a statement today.

“We wanted to share the sad news that Greg Josephson, who founded our company and played a significant role until 2018, has recently passed away,”a spokesperson said.

“Our sincere thoughts and condolences are with his family at this very sad time.”

The Josephsons had a long family history in retail.

Their grandfather owned the iconic Australian workwear label Can’t Tear ’Em, and their uncle had ties to the denim brand Lee Cooper.

Josephson also owned the Noosa Reef Hotel, which he purchased in 2021 for $13.9 million.

According to his LinkedIn profile, Josephson also held senior roles with Westfield and Lend Lease. He was most recently listed as the chief executive of Josephsons Holdings.

At the time of the incident, about 30 teenagers were at the property, where it’s believed a house party had taken place.

Josephson was found dead on the top level of the home, which is currently up for sale.

The Clayfield home, valued at more than $5.5 million according to realestate.com.au, sits just 5km from Brisbane’s CBD.

Police say the 15-year-old was the one to call triple-0.

He was arrested at a property nearby and had sustained a minor injury.

It’s unclear what led to the stabbing, but Detective Acting Superintendent Craig Williams said it appeared as though the other teenagers at the party had no idea what had happened.

None of the other teenagers were arrested, but some are helping police with their investigation.

“It’s still very early days, so (the) exact location of who was standing where and who saw what forms part of our investigation,” he said.

“The initial investigation indicates that no other persons were involved other than the 15-year-old who’s been taken into custody.”

Detectives have located the murder weapon.

Inspector Jane Healy previously described the scene officers showed up to as “chaotic” and “confusing”.

It’s unknown if drugs or alcohol were present at the party.

“This is a tragic incident that will affect the family, the community as a whole and other young people who were at the house at the time,” Williams said.

Neighbour Corinne Matthews said described seeing distressed young guests outside the home on the night of the incident.

“There were a couple of girls who leaned over and said, ‘We got invited to this party … and now all we want to do is go home and we’re not allowed to leave.’

“They were dreadfully upset.

“None of the kids seemed to know what was going on.”

Queensland Premier David Crisafulli would not confirm whether the teenager will be the first to face trial under new state adult time adult crime laws.

“When things like this happen deep sense of remorse,” he said on Friday.

“Let courts do their job.”

The legislation allows some teens aged 15 to 17 to face adult court for serious offences.

The teenager’s case was briefly mentioned in Childrens Court on Friday morning, with the accused not in attendance.

He did not apply for bail and is expected to return to court in September.