Unprecedented industry challenges for builders resulted in significant cashflow pressure and losses.
The builder was locked into fixed price contracts with no ability to pass on enormous price rises from suppliers.
Difficult industry conditions resulted in evaporating goodwill with suppliers and trades.
What We Did
Developed a go-forward business model to reflect market conditions and be cashflow positive immediately post-restructure.
Developed a restructure strategy that enabled the business to trade during administration while retaining goodwill, enabling the creditors to assess the Deed of Company Arrangement (DOCA).
Led negotiations with all suppliers, trades, and creditors.
Developed a DOCA that resulted in a materially better outcome for creditors.
Raised equity to support the business and the DOCA.
Procured customer support to finish 95% of all projects that had been commenced.
What We Delivered
Finished 95% of all commenced homes.
Protected and preserved all customer deposits.
Saved 100 jobs.
Re-established supplier and trade base, enabling homes to be completed.
Proposed a DOCA that had 90% creditor support.
The business continues to trade with a model that reflects market conditions and is poised for growth.
All ongoing trades and subcontractors were repaid in full.
Suppliers and trades continue to have a customer, unlocking future economic benefits.
Why They Came To Us
What We Did
What We Delivered
Unprecedented industry challenges for builders resulted in significant cashflow pressure and losses.
The builder was locked into fixed price contracts with no ability to pass on enormous price rises from suppliers.
Difficult industry conditions resulted in evaporating goodwill with suppliers and trades.
Developed a go-forward business model to reflect market conditions and be cashflow positive immediately post-restructure.
Developed a restructure strategy that enabled the business to trade during administration while retaining goodwill, enabling the creditors to assess the Deed of Company Arrangement (DOCA).
Led negotiations with all suppliers, trades, and creditors.
Developed a DOCA that resulted in a materially better outcome for creditors.
Raised equity to support the business and the DOCA.
Procured customer support to finish 95% of all projects that had been commenced.
Finished 95% of all commenced homes.
Protected and preserved all customer deposits.
Saved 100 jobs.
Re-established supplier and trade base, enabling homes to be completed.
Proposed a DOCA that had 90% creditor support.
The business continues to trade with a model that reflects market conditions and is poised for growth.
All ongoing trades and subcontractors were repaid in full.
Suppliers and trades continue to have a customer, unlocking future economic benefits.
