In this Case Study, My Business Path stepped in to work with the business through a Voluntary Administration, negotiating a substantial settlement for the benefit of creditors, employees and unsecured creditors. Read how we made this happen.
|Location||Kalgoolie, Western Australia|
The Financial Situation
In this Case Study, this WA IGA Supermarket Franchise came to My Business Path
- with primary operations involving an IGA supermarket franchise as well as commercial real property holdings
- should the company fold, both the business and the creditors stood to lose money and property with employees to lose jobs
My Business Path's role in relation to the business was to
- assess the company's financial performance
- work alongside the business through a Voluntary Administration Process
- draft and arrange for the signing of a Deed Of Company Arrangement
My Business Path worked closely with the business to see
- anomalies identified against the charges from a major supplier for overcharges in excess of $1m
- negotiate a substantial settlement for creditors under the DOCA of one hundred cents in the dollar for both employees and unsecured creditors
The people are real. The businesses are real. My Business Path designed a tailored solution that worked.
Want To Know More About Voluntary Administration?
We Help Turn Business Around.