Melbourne-based digital furniture and homewares retailer Brosa has gone into voluntary administration.
The company founded in 2014 by Ivan Lim, David Wei and Richard Li tripled in size during Covid-19 restrictions as shoppers went online for direct-to-customer deliveries.
This week Brosa announced it has appointed Richard Tucker and Michael Korda of Kordamentha Restructuring as administrators.
The business faced challenges when sales declined after the Covid-19 restrictions were lifted. This caused short-term cashflow pressures after a period of phenomenal growth, Tucker says in a statement.
Kordamentha is now looking to sell Brosa as a going concern, offering a strong customer base and technological capabilities that would be an as…
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