Urgent Expressions of Interest - Focus on Furnitures
Tender ID: 386167
Tender Details
Tender Description
McGrathNicol partners Barry Kogan, Kathy Sozou and Matthew Caddy as Voluntary Administrators seek urgent expressions of interest for the sale of Focus on Furniture as a going concern, or recapitalisation by way of Deed of Company Arrangement.
Focus on Furniture, which in addition to the focus on Furniture brand also operates under the BedsOnline brand, currently operates 38 retail outlets and 4 distribution centres/warehouses in Victoria, New South Wales, Queensland, South Australia and the Australian Capital Territory. The Administrators are working with Focus on Furniture and its management team to restructure its physical store footprint, and calibrate the network to the core profitable locations.
Key investment highlights include:
Revenue of c.$98.9 million for 9 months to 31 March 2019.
Strong brand presence, particularly in Victoria, the most profitable state for the business.
Commited and highly engaged management team.
Expressions of interest are sought by no later than Friday, 24 May 2019. Interested parties can obtain further information on the sale process from:
Courtney Roe
T +612 9338 2669
E croe@mcgrathnicol.com
Location
Queensland : Cairns & Far North Queensland : Gladstone : Mackay Whitsunday Region : Mount Isa & North West Region : Rockhampton : South East Queensland : South West & Darling Downs : The Central West : Townsville : Wide Bay Burnett
Victoria : Barwon South West : Gippsland : Grampians : Hume : Loddon Mallee : Melbourne
South Australia : Adelaide : Eyre & Western : Far North : Fleurieu & Kangaroo Island : Limestone Coast : Murray & Mallee : York & Mid North
Australian Capital Territory
