BEVILLES

Bevilles is an 80 year-old family business specialising in jewellery.

“How do they create this magic, this fairy-tale? The business today... after the restructure and having Mawson help me with the process... it’s a completely transformed business and it’s really my dream business now.”

Michelle Beville, Managing Director

WHY THEY CAME TO US

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  • The business was on the brink of insolvency and had already received pre-appointment insolvency advice that unsecured creditors would receive a return of 20-30 cents in the dollar.

  • Bevilles was operating 26 retail stores in shopping centres while employing over 350 staff nationwide.

  • The business had limited cash flow and was under mounting pressure from creditors.

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WHAT WE DID

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  • Developed a financial model and turnaround plan to provide confidence to major stakeholders.

  • Identified that occupancy costs were too high and the average store size needed to be reduced by 40 per cent.

  • Procured support of the business's key stakeholders, both locally and internationally.

  • Negotiated commercial arrangements with all key stakeholders.

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WHAT WE DELIVERED

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  • Saved an 80 year-old family business.

  • Retained 250 jobs.

  • Returned 90 cents in the dollar to unsecured creditors, compared to the initial advice of 20-30 cents.