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

  • 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.

WHAT WE DID

  • 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.

WHAT WE DELIVERED

  • 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.