Gordon Brothers, the global advisory, restructuring and investment firm, was recently engaged by the advisory firm BRI Ferrier, the appointed liquidator of Live Fashion Group Pty Ltd, to complete the inventory disposition and store closures for Live Clothing.
Gordon Brothers closed five of the former streetwear retailer’s stores in Perth, and an online store, and completed the disposition of all inventory in collaboration with BRI Ferrier over the course of eight weeks.
Live Clothing entered liquidation in early May. Like many retailers, Live Clothing was affected by the onset of the COVID-19 pandemic and resulting protective measures, including the postponement of major youth events, festivals and race days, the attendees of which were the retailer’s primary customer base.
“In partnership with Shaun Boyle and BRI Ferrier, we were able to quickly and successfully complete the store closures and inventory disposition for the 28-year-old retailer,” said David Westhead, Director, Retail at Gordon Brothers. “We ensured the best outcome for all parties involved with speed and certainty.”
“The combination of Gordon Brothers’ retail expertise and our restructuring experience enabled this partnership to achieve the best returns and overall outcome for Live Clothing,” said Shaun Boyle, Principal at BRI Ferrier and Liquidator of Live Fashion Group Pty Ltd.
Gordon Brothers helps clients unlock liquidity and achieve sustainable growth by maximizing the value of underperforming assets while limiting costs and liabilities. Additionally, the firm provides both short- and long-term capital to retail clients and financing partners undergoing transformation beyond traditional asset-based lending.
About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, management teams, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, financing and investment. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to provide maximum liquidity, put assets to their highest and best use and mitigate liabilities. The firm conducts more than $100 billion worth of dispositions and appraisals annually and provides both short- and long-term capital to clients undergoing transformation. Gordon Brothers lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services. The firm is headquartered in Boston, with over 30 offices across five continents.
About BRI Ferrier
BRI Ferrier is a unique affiliation of expert business recovery, insolvency, forensic accounting and advisory firms. We provide practical, innovative services that help financially distressed businesses to recover or at least minimise the negative impacts of insolvency.
With over 80 staff and eight practices in Australia, and New Zealand, we work with clients of all types – from individuals, sole traders and small businesses to public corporations and government entities.
We also work with financiers, solicitors, accountants and creditors to address the needs of all stakeholders when businesses face financial challenges.