BDO appointed as Administrators for Moss River Stores Australia
19 September 2017
BDO has been appointed as Administrators to Fineline Home Products Pty Ltd, which trades as Moss River through eight retail stores in Australia (ACN: 607 179 868).
The homewares retail chain has been in business since 1978 and specialises in manchester and premium linen.
It operates in Victoria, NSW, Queensland and has an online store and employs approximately 40 people.
BDO’s Andrew Sallway and James White have been appointed as the Administrators and are now calling for expressions of interest in the business and its assets, which includes the retail outlets and stock, as well the business’s intellectual property including its brand name.
“We are currently continuing to trade with a view to sell the business,” Mr Sallway said.
In New South Wales, Moss River has stores in Woollahra, Waterloo, Mosman and Bowral. The business operates a store in Fortitude Valley in Queensland, along with three Victorian stores in Toorak, Canterbury and Carlton in Melbourne.
“Since BDO’s appointment 3 stores have closed – Hyde Park SA, Hawksburn VIC and Mona Vale NSW - however there is no intention to close further stores at this time,” he said.
The first meeting of the creditors of the Company was held on Thursday (14 September 2017).
Moss River went into Administration in July 2015 when it was owned by Residential Homewares Pty Ltd.