Besieged department store Myer has brought in high-profile restructuring and insolvency administrator Mark Korda to help it try to squeeze out from under suffocating leases.
It is understood Mr Korda, a partner at KordaMentha who has worked on collapses spanning from Ansett to last year’s Network Ten administration, was brought in about three weeks ago to help Myer’s executive chairman Garry Hounsell negotiate with landlords.
Myer is undergoing crucial talks with its landlords.
Photo: Jessica Shaprio
Mr Hounsell, who is running Myer while it looks for a new CEO, has said he would meet landlords to negotiate rent rates and lease tenure for its 63 stores on a “whole portfolio basis” and has not ruled out more store closures.
Myer’s legacy…
Read the full article at: https://www.brisbanetimes.com.au/business/companies/myer-calls-in-big-gun-mark-korda-to-soften-up-landlords-20180416-p4z9xs.html