Creditors vote ‘overwhelmingly’ in favour of Brosa liquidation

Creditors have ‘overwhelmingly’ voted to wind up collapsed furniture retailer Brosa one month after the company fell into voluntary administration and sold off assets to Kogan (ASX: KGN) for $1.5 million.

The decision to place the company into liquidation was recommended by KordaMentha administrators Richard Tucker and Michael Korda, who noted Brosa did not receive a deed of company arrangement (DOCA) to bail out the struggling brand.

When the Melbourne-based company fell into voluntary administration, Brosa had assets of $4.3 million and liabilities of $24.2 million.

Read More: https://www.businessnewsaustralia.com/articles/creditors-vote--overwhelmingly--in-favour-of-brosa-liquidation.html