Voluntary administration of a company which operated a restaurant and gin distillery business located on the Victorian surf coast.
As the appointed Administrators of Great Ocean Road Gin, we assumed responsibility for the company, which operated a gin distillery and restaurant along Victoria's surf coast. Due to the restaurant's financial challenges and lack of viability, we closed its operations. Simultaneously, we oversaw the gin distillery's limited operations, focusing on selling residual stock. We facilitated a successful recapitalisation achieved via a deed of company arrangement (DOCA)proposed by the director/shareholders, ensuring returns were distributed to creditors as per the agreed terms.
Recognising the need to secure the best possible outcome for creditors, we initiated a sale of business campaign. This campaign aimed to explore options for recapitalising or selling the company and its assets. Our goal was to maximise returns for creditors.
Through this process, we facilitated a successful recapitalisation achieved via a deed of company arrangement (DOCA) proposed by the director/shareholders. This strategic move allowed the business to continue operating effectively. The DOCA enabled us to fulfill our commitment to creditors, including priority employee creditors and unsecured creditors, by ensuring returns were distributed as per the agreed terms.
Overall, our efforts as administrators not only preserved the business, allowing it to continue operating, but also optimised creditor returns, safeguarding the interests of all parties involved in Great Ocean Road Gin.
