EY turnaround and restructuring leader Adam Nikitins,who led the liquidation process,said Berkowitz Furniture was selected from a handful of prospective buyers for its willingness to support the brand and its customers.
“The intention is to honour outstanding customer orders,store credits and gift cards,” Nikitins told this masthead,adding that there may be “certain instances where a supplier may not provide supply”.
Fenton&Fenton’s online store and Melbourne showrooms are slated to be reopened later this year.
Loading
Founder Lucy Fenton has been retained to continue as the business’ creative director to maintain brand identity,while Berkowitz Furniture will bring in its management team “for long-term stability”.
In her first comments since the company’s collapse,the sole director said she was extremely grateful for the Berkowitz team and the “faith they have shown” in Fenton&Fenton.
“This has been an extremely challenging time for the business,our customers,staff and suppliers,and I am pleased to have found a solution that enables us to continue Fenton&Fenton into the next chapter,” she said in a statement.