The established furniture business was successfully restructured and was subsequently sold in accordance with a deed of company arrangement.
Cor Cordis was appointed voluntary administrator of Hub Furniture, a well-established designer furniture brand in Australia. This engagement presented unique and complex challenges occurring at the height of the COVID-19 pandemic, with the objective of facilitating the sale and restructuring of the company.
Throughout our engagement, our primary challenge centred on navigating and mitigating the impacts of the COVID-19 pandemic on Hub Furniture. Simultaneously we worked diligently to position the business strategically for an optimised sale and restructure.
To address these challenges effectively, we devised a comprehensive strategy that involved several key components:
Our efforts resulted in a successful outcome that had a positive impact on various stakeholders. The key achievements of this outcome included: