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Corporate Restructuring | Turnaround Finance | Offshoring | |
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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.