Voluntary Administrators of a manufacturer and distributor of concrete landscaping products from Wodonga, Victoria. We successfully traded on and sold the business and assets through the administration process.
We supervised the ongoing trading of the Company managing key stakeholder interests, including employees, landlord, purchasers, suppliers and noteholders. This included negotiations with the landlord to retain concrete tanks on site while a marketing process for the assets and business was undertaken.
We successfully sold the business, assets and intellectual property with the sale including potential upside of trailing commissions on future sales. At the second meeting of creditors, creditors resolved to wind up the company. On receipt of the trailing commission from the sale and attending to other statutory matters, we expect to finalise the liquidation in the coming months.