Josh Goot is feeling relieved. Relieved, and focused.
Just over a month ago, his much-lauded label was entering into voluntary administration , much to the concern of his many fans and advocates of the Australian fashion industry. Needless to say, it has been an intense five weeks but today, as creditors voted to return the company to Goot, the label has emerged happily intact, and with a clear vision for the future.
The decision to enter into voluntary administration in the first place was a difficult one. “It was a very tough call,” Goot says, “but when I understood what voluntary administration meant, I realised it was the right option for the company.”
For those of us not versed in this kind of business, Goot explains. “It’s kind of like putting up your hand and saying the company needs help, and that we basically need to call a time-out to look at it carefully, with professional advice to find the best way forward to the benefit of all stakeholders.
“The administrator was able to help us extract information from the business that was key to understanding what was working and what wasn’t,” Goot continues. “We did it very quickly and very thoroughly and were then able to make informed decisions about what…