Anand hoped to refinance the company to shore up its position, with a view to increasing sales leading into the Christmas period.
However, Anand and the company could not secure financing, and elected to appoint liquidators as a result.
Following their appointment, Patel and Reynolds have requested the company’s records from Anand, and are sourcing records from external sources including the company’s bankers, creditors, accountants and advisers.
Patel and Reynolds have also secured the retail sites and are centralising the inventory so they can conduct a sale.
According to the liquidators’ statement of affairs, DNA Global had five secured creditors and 43 preferential and unsecured creditors, including Mainfreight, New Zealand…