09/05/2019 - 14:16

Rosendorff receivers liquidating assets

09/05/2019 - 14:16

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After 55 years of business, iconic Perth jeweller Rosendorff has been placed in receivership.

Rosendorff receivers liquidating assets
Mr Rosendorff became interested in jewellery after he worked part-time at The Moderne Gift Shoppe on Barrack Street and established a name for himself selling jewellery.

After 55 years of business, iconic Perth jeweller Rosendorff has been placed in receivership.  

An ASIC announcement said a meeting between the creditors would occur at 11am today.

KordaMentha Restructuring has been appointed receivers of Rosendorff.

FTI Consulting was appointed as the administrator on April 29.    

KordaMentha Restructuring partner Richard Tucker said as receivers, they have the full support of the secured creditor, while exploring all options available to the business.

Rosendorff is currently holding too much stock and we are running a short highly discounted sale through the store to materially reduce the current stock levels whilst a sale or recapitalisation of the business is pursued,” Mr Tucker said.

“It is a tremendous opportunity to acquire a very special jewellery item at very competitive prices and may also help save an iconic Perth jeweller.”

A liquidation sale of more than $9 million worth of diamonds and fine jewellery begins tomorrow at the Hay Street store.

Mr Rosendorff became interested in jewellery after he worked part-time at The Moderne Gift Shoppe on Barrack Street and established a name for himself selling jewellery.

He bought the store a few years later and in 1978 changed the name to Rosendorff.  

The store moved from Barrack Street in 1981 to Trinity Arcade in the Hay Street Mall before shifting to its current location on the western side of the mall.

Mr Rosendorff opened a second store in Garden City which has subsequently closed.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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