Initially collapsing into voluntary administration back in 2015 when previously owned by Original Residential Homewares Pty Limited, Fineline Home Products Pty Ltd stepped in at the time and saved Moss River from insolvency. However, with current competitive conditions and declining sales figures causing issues industry wide, Moss River is again set to join a long list of retailers shutting up shop.
Seeking to recoup their investment, in July this year, creditors Canberra Centre Investments Pty Ltd and QIC Limited applied for a Wind Up Order through the Federal court of Australia, forcing the struggling retailer into administration. Following this court action, it has been announced that financial advisory firm BDO have been appoint…
Read the full article at: http://www.powerretail.com.au/news/moss-river-sinks-administration-second-time/