Wellness and beauty retailer BWXs Australian operations have been placed in voluntary administration as the company struggles to combat inventory and working capital issues.
Kate Warwick, Joe Hansell and Kelly Trenfield of management consulting firm FTI Consulting have been appointed administrators, effective immediately. They intend to continue the directors search for a buyer for BWXs stake in skincare brand Go-To.
In an ASX statement, the company said a range of issues have continued to impact the Australian operations of BWX including customer destocking and inventory and working capital issues necessitating the appointment of administrators.
The directors believe entering voluntary administration will help progress the restructuring…
Read the full article at: https://insidefmcg.com.au/2023/04/04/bwxs-australian-operations-enters-voluntary-administration/