Melbourne-based digital furniture and homewares retailer Brosa has gone into voluntary administration.
The company – founded in 2014 by Ivan Lim, David Wei and Richard Li – tripled in size during Covid-19 restrictions as shoppers went online for direct-to-customer deliveries.
This week Brosa announced it has appointed Richard Tucker and Michael Korda of Kordamentha Restructuring as administrators.
“The business faced challenges when sales declined after the Covid-19 restrictions were lifted. This caused short-term cashflow pressures after a period of phenomenal growth,” Tucker says in a statement.
Kordamentha is now looking to sell Brosa as a going concern, offering “a strong customer base and technological capabilities that would be an asset to many other furniture retailers”. Tucker says the retailer is now looking to restructure as a made-to-order business.
Meanwhile, administrators are clearing stock. “If you are looking for a new couch, or other stylish furniture in the lead-up to Christmas, visit the Brosa website…. for a great deal,” Tucker says.
This story was updated at 4pm on Thursday December 15 to reflect that sales are no longer available at the…