Cor Cordis provides a wide range of business advisory services and regularly advises on high profile client matters. We also specialise in a number of industries. A sample of the key projects by service line and industry can be found below.
Appointed Receivers and Managers during Covid-19 period, providing unique stabilisation challenges, undertook material cost reduction, negotiated landlord rent relief and optimised the vast store network. Successfully sold the business to a USA based lifestyle brand company and ensured 25 stores remained open in Australia, along with 256 full-time, part-time and casual staff remaining employed.
Appointed Voluntary Administrators of an established homeware brand which required trading of the business through complex challenges exacerbated by the nationwide coronavirus (COVID-19) lockdown. This required negotiations with landlords, transitioning from brick-and-mortar retail to an online sales hub model and reviewing other operational parameters to enable a suitable sale and restructure to be formulated by the director. The business was subsequently sold as part of a Deed of Company Arrangement approved by creditors.
At its peak, this vocational education student broking and RTO business had revenues of c.$130m and secured debt of c.$40m. However, the group became destabilised after changes to the government’s student funding model. After successfully divesting the group’s assets, the liquidators have been funded to continue to fully investigate the affairs of the Acquire Learning Group and pursue a number of director related claims and complex shareholder loan trust structures.
A multi-stage advisory engagement on behalf of a large civil construction group, involving preparing submissions to key stakeholders to agree a standstill period, undertaking the financial modelling to assess a major infrastructure project, and subsequently securing additional funding to support the infrastructure project. Our role has created value for shareholders.
As Voluntary Administrators of Queensland’s third largest egg producer (over 101 hectares under management), we continued the operations of the farm for 5 months, deployed an effective and sensitive stakeholder risk mitigation agribusiness strategy while we restored and rehabilitated the site, and achieved a going concern sale of the business.
Voluntary Administrators of a group that manufactures and markets an innovative fire and acoustic rated wall system for the construction industry and employed over 100 employees with secured debt of c. $18m. We traded the group for a number of months and achieved a Deed of Company Arrangement restructure and preserved the group and jobs.
Voluntary Administration of an ASX listed Nickel miner with operations in Brazil and secured creditors with Hedge Funds owed $260m. The company underwent a restructure under section 444GA of the Corporations Act following significant negotiations with ASX, ASIC and stakeholders.
Advised a retirement village company that operated and developed c. 10 retirement villages with approximately $120m in assets, whereby we negotiated and liaised with financiers to resolve issues and facilitate managed sell down of assets.
Review on behalf of a major banking client of a property developer with group lending in excess of $30m and a number of commercial and residential development sites. The review involved a feasibility analysis and the development of a divestment strategy. Following the realisation of a number of development sites, the property portfolio debt was reduced to a serviceable level and the customer retained by the lenders.
Voluntary Administrators of a chocolate confectionery manufacturing business which produced a variety of products for both the domestic and export markets (secured creditor debts of c. $5.2m and unsecured creditor debts of c. $4.8m and c. 70 staff). We undertook a business viability review and urgent sale of business campaign. We successfully completed a sale of business and assets preserving value for creditors.