This is a small excerpt from our upcoming Power Edition, where Sakic reveals 5 lessons she learned to become a more successful retailer. You can subscribe here.
One of the objectives of putting a business into voluntary administration is to see if a financially stressed business can be saved or restructured.
If the answer is no, the idea is that it will drive the best return to creditors versus an immediate liquidation or sale of the business.
Only about one in every four voluntary administration regimes meet the objective and recover and I was determined to be one of them.
Giving up the business and sitting on the sidelines, even though it was a relatively short period of time was challenging, but I had to trust in the administrators …
Read the full article at: https://www.ragtrader.com.au/news/tuchuzy-founder-daria-sakic-offers-rare-glimpse-into-voluntary-administration
