THE assets of Brenstew Pty Ltd will be liquidated following the second creditors’ meeting in Sydney yesterday morning. About 10 creditors attended.
All creditors voted to put the company into immediate liquidation, with administrators BRI Ferrier appointed as the liquidators.
Brenstew Pty Ltd, the company responsible for Blowes’ Trousers, The Wardrobe and URXS at Tamworth, The Wardrobe at Armidale and Blowes and RM Williams at Dubbo, were put into voluntary administration and up for sale in July.
Company owner Brendon Blowes said BRI Ferrier had been given directions to liquidate all the assets of the company and return money to creditors.
“Secured creditors and employees are the priority,” Mr Blowes said.
“Staff will be either offered new jobs with new businesses and some have already found alternative employment. Others may be offered redundancies.”
Mr Blowes said the stores would continue to trade until all assets were sold.
“The business can still be sold and it would appear that two parts of the business have been sold,” he said.
“There are six offers still in play.”