Ferrier Hodgson secures future for Mosman Rowers Club following successful restructure
2 October 2018
Morgan Kelly and Peter Gothard of Ferrier Hodgson were appointed as Voluntary Administrators of the club on 9 May 2018, following a long period of financial difficulty.
Over the past five months Ferrier Hodgson has been working closely with members, creditors and other key stakeholders to secure the long-term viability of this 107-year-old heritage club.
“We are pleased to announce that Mosman Rowers Club has successfully executed a Deed of Company Arrangement allowing it to exit Voluntary Administration, and for control of the club to be handed back to its board of directors” Mr Gothard said.
The board plans to partner with a catering operator and undertake a program of capital works to re-invigorate the club.
“Mosman Rowers is a well-loved and iconic club which has a vast amount of support amongst its members and the wider community.
Now that the club’s financial difficulties have been resolved, the club can focus on implementing its turnaround plan.” Gothard said.
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