Voluntary Administrators Appointed To Go To Collection

Malcolm Hollis and John Fisk of PwC were appointed as Voluntary Administrators by the Directors of Go To Collection on 24 November 2022. The Go To Collection hospitality group operates the Rata, Madam Woo and Hawker & Roll restaurants in Queenstown, Auckland, Hamilton and Tauranga. The company currently employs in excess of 100 staff.

Malcolm Hollis says the Voluntary Administrators are working closely with the Company’s directors, shareholders and management to restructure the business. The purpose of a Voluntary Administration (VA) is to provide an opportunity to rehabilitate a business and restructure its activities, and offer a better outcome to stakeholders than would be achieved through alternative processes.

“The Company has experienced a difficult period due to the impact of COVID-19, especially the extreme shortage of staff. We will work with the team to devise and implement a restructuring plan to ensure the components of the business that are operating well can have a successful future. The best performing restaurants will continue to provide high quality services. However, the less popular sites will be closed. Nearly all existing staff will be retained.”

In addition to a restructuring plan, it is intended that a proposal (by way of a Deed of Company Arrangement or DOCA) will be put to creditors at a Watershed Meeting before Christmas. Creditors will be contacted in due course.

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