The Compass Hotel Group has appointed BBY as its corporate advisor to help consider recapitalisation options and seek permanent directors.
The group, which owns a string of pubs in Western Australia, said it had been in talks with a number of interested parties, all of who have the necessary experience to take up positions on the board.
Shares in Compass have been in a trading halt since July when all but one of its directors suddenly resigned from the company.
Last month, Compass found temporary replacements for the directors.
"Timing for the appointment of the incoming party, recapitalisation of the Group and lifting of the suspension of the Group's stapled securities will be closely co‐ordinated by the current interim board with the advice of BBY, with the intention to have resolutions for all matters as soon as practical," Compass said in a statement.
The group added that contrary to media reports, it was not offering any of the pubs up for sale.
