Regal Bedding

Regal Bedding is an Australian bedding manufacturer and retail business that has been operating for over 30 years.

"We’ve now taken the business to significant profitability. It was a great decision point for Rob to look back on and think he was that close to winding it down, to now having what is a really important manufacturing business."

Julian Kirzner, Director

WHY THEY CAME TO US

  • High occupancy costs were pushing the business close to closure.
  • The retail division of the business had suffered significant losses due to unprofitable stores and high overheads.
  • The business had outdated and fragmented financial control systems, with no cash flow forecasts, causing cash shortages.

WHAT WE DID

  • Restructured and stabilised the business.
  • Provided CFO assistance to improve the finance functions and provided senior finance support.
  • Undertook a detailed financial analysis which revealed a number of loss-making retail stores were impacting the manufacturing business, which was performing comparatively well.

WHAT WE DELIVERED

  • Closed unprofitable stores.
  • Renegotiated existing leases with landlords to reduce rent.
  • Introduced cloud based accounting systems.
  • 60-day rolling cash flow forecasts.
  • Implemented accurate consolidated accounts.
  • Full review of IT systems with replacement processes.
  • Freed up retail managers time to concentrate on revenue growth.
  • Introduced regular leadership meetings.

 

3 years on, the business has expanded interstate and is now exporting direct to China.