A surge of interest from potential buyers could bail out embattled online luxury furniture retailer Brosa after the Melbourne-based company went into voluntary administration last week. Richard Tucker and Michael Korda of KordaMentha have been appointed as voluntary administrators for Brosa, which received more than 30 enquiries to buy out the company. Founded in 2014…
This report studies theCorporate Insolvency Service Market Marketwith many aspects of the industry like the market size, market status, market trends and forecast, the report also provides brief information of the competitors and the specific growth opportunities with key market drivers. Find the complete Corporate Insolvency Service Market Market analysis segmented by companies, region, type…
Brosa, the upmarket online furniture brand, has been placed in voluntary administration, citing a decline in trade since Covid-19 restrictions enabled consumers to shop at physical stores again. Last February, Brosas co-founder and CEO Ivan Lim told Inside Retail the business grew more than 100 per cent last financial year, in line with other online…
Online furniture retailer Brosa is up for sale after the business was placed in voluntary administration this week. Richard Tucker and Michael Korda of KordaMentha were appointed Voluntary Administrators of the 8-year-old ecommerce company, which raised more than $7 million in venture capital from the likes of Airtree and ASX-listed Bailador Technology Investments. While Bailador…
Small businesses should have better access to debt hibernation instead of being made insolvent when they face a crisis beyond their control, so they are better able to pursue a credible restructure, save jobs and rebuild, according to the Australian Small Business and Family Enterprise Ombudsman, Bruce Billson. It is one of several recommendations made…
Melbourne-based digital furniture and homewares retailer Brosa has gone into voluntary administration. The company founded in 2014 by Ivan Lim, David Wei and Richard Li tripled in size during Covid-19 restrictions as shoppers went online for direct-to-customer deliveries. This week Brosa announced it has appointed Richard Tucker and Michael Korda of Kordamentha Restructuring as administrators.…
Luxury furniture company collapses as it blames its business woes on growing too quickly through Covid Melbourne luxury furniture shop Brosa announced its collapse on Wednesday The furniture store blamed its collapse on its ‘phenomenal’ growth in Covid Richard Tucker and Michael Korda were appointed as voluntary administrators By Sarah Liversidge For Daily Mail Australia…
A stylish online furniture retailer has entered administration, with experts blaming the shock collapse on the brutal Covid pandemic. On Wednesday morning, it was announced that Brosa a popular online furniture and home decor retailer had appointed Richard Tucker and Michael Korda of KordaMentha as voluntary administrators. Stream more business news live & on demand…
The company behind well-known Scottish music festival Doune the Rabbit Hole has entered liquidation. Doune The Rabbit Hole Festival Ltd, the company that ran the 2022 event at Cardoss Estate in Stirlingshire, said it has entered liquidation after suffering huge financial difficulty. It comes after accusations surfaced in Octoberthat the festival, Scotlands largest outdoor camping…
They could not get comfortable during their due diligence before the appointment of administrators and thats why they withdrew their offer to provide $30 million of secured funding, he said. The administration process allowed Webuild to have commercial renegotiations with Cloughs clients without having to take on its historical liabilities on contracts, he said. Its…