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Restructuring and Turnarounds using formal insolvency procedures
Furniture To Go - Administrators
A wealthy investor had invested in a warehouse furniture retail concept. He had built the business up to 4 retail stores – but it remained unprofitable and was materially insolvent.
We acted as Administrators implementing the following game plan:
• Created a moratorium to prevent creditor action.
• Downsized the business from 4 to 2 warehouses to make the business break even at an
operational level.
• Sold the business and assets to an Australian furniture retail group – Fantastic Furniture, then
• Exited from the Administration with a Company Voluntary Arrangement (CVA) – which unusually
provided both a cash dividend to creditors and a debt / equity swap in the new UK business.
Restructuring &
Turnarounds
Furniture To Go
Turnaround Investments
We were voted
"Leading Independent Turnaround Firm in
the UK"
Inside Guide
TMP UK
Level 25 Tower 42
25 Old Broad Street
London EC2N 1HQ
United Kingdom
T: +44 (0)20 7496 1010
F: +44 (0)20 7374 8341
TMP SA
Ruskin House
Roeland Street
Cape Town 8001
South Africa
T: +27 21 461 2647
F: +27 (21) 461 2642
Map Link