A preferred on-line luxurious furnishings retailer has collapsed after falling sufferer to “phenomenal progress” throughout COVID lockdowns which it was unable to maintain post-pandemic.
Brosa, which additionally has two studios in Sydney and Melbourne, launched in 2014 with a concentrate on offering prospects with premium furnishings at reasonably priced costs, by avoiding the prices borne by conventional furnishings retailers.
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On Wednesday, it was introduced that Richard Tucker and Michael Korda of KordaMentha had been appointed as voluntary directors and had been searching for expressions of curiosity in buying the corporate.
Tucker mentioned the corporate’s current monetary challenges had been the results of a decline in gross sales after speedy progress through the pandemic, when buyers turned to direct-to-customer deliveries.
“This precipitated short-term cashflow pressures after a interval of phenomenal progress,” he mentioned.
“KordaMentha is searching for pressing expressions of curiosity within the sale of Brosa.
“The enterprise tripled in measurement through the pandemic, growing a robust buyer base and technological capabilities that may be an asset to many different furnishings retailers.”
Tucker mentioned he expects there will probably be robust curiosity within the firm, and urged prospects to go to the web site within the lead as much as the brand new 12 months.
“The corporate was embarking on a marketing campaign to cut back its stock holdings and refocus itself as a make-to-order enterprise,” he mentioned.
“We plan to proceed this course of to clear inventory. If you’re searching for a brand new sofa, or different fashionable furnishings within the lead as much as Christmas please go to the web site for a fantastic deal.”
Brosa was contacted for remark.
