Our goal with Gordon Smith Group was the preserve the business’ value and reputation. To negotiate a sale out of a difficult situation and avoid a legal battle was an excellent outcome for both parties.

Women’s fashion house, Gordon Smith Group held debts in excess of $11m when AS Advisory was appointed administrator. With a network of 20 retails outlets, wholesale contracts with major retailers and more than 100 employees, there was a lot at stake. The company had secured a potential buyer prior to administration however, upon receiving our comprehensive Administrator’s Report they took steps to pull out of the agreement. 

AS Advisory successfully re-negotiated the terms and settlement without a protracted legal battle, enabling the business to continue as a going concern and retain employment of approximately 100 staff. Further, a deed of company arrangement was negotiated, pooling all assets and entities into one deed and providing a favourable financial return to staff, secured and unsecured creditors.