Mentmore Pty Ltd

ACN: 164 144 889   Contact: Frank Farrugia
ABN: 40 164 144 889   Telephone: +61 2 8999 9330
Appointment: Receivers and Managers   Fax: +61 2 9221 8607
Appointees: David Iannuzzi & Murray Godfrey   email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Date of
Appointment:
3 February 2014      

 

 

 

 

 

Murray Godfrey and David Iannuzzi were appointed Receivers and Managers by Breakwater Structured Growth Opportunities Fund LP (“Breakwater”) to Mentmore Pty Ltd (ACN 164 144 889) (“Mentmore”) on 3 February 2014.
 
Breakwater also hold a security over 17 135 580 013 Pty Ltd (Formerly Ksubi Copyright Pty Ltd) (ACN 135 580 013)(“Ksubi”).
 
Breakwater paid out Moneytech Finance (“Moneytech”), the first secured creditor over Mentmore and Ksubi on 30 January 2014. As a result the Receivers and Managers appointed to Mentmore and Ksubi by Moneytech, being Mr Rod Sutherland and Mr Andrew Spring of Jirsch Sutherland retired as Receivers and Managers from both companies effective 30 January 2014.
 
Since 31 January 2014 the affairs of Ksubi including the 7 retail stores have been under the control of the Voluntary Administrator Mr Gavin Moss of Vincent’s. Mr Moss, without consulting Breakwater, decided to cease retail operations, this despite the understanding of all relevant parties that the aim was to devise a strategy ensuring retail operations would continue until the business was sold as a going concern.  
 
Mr Moss closed the Ksubi stores on 13 February 2014 without notice to Breakwater.
 
Mentmore is continuing the online store and will continue to provide customers with goods.
 
Until such time that a new partner is found to operate the local retail stores, Ksubi stock and associate brands will continue to operate locally online and globally via its designated distributors.

 

 

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