Ferrier Hodgson working on rescue package for Mosman Rowers Club
1 June 2018
Ferrier Hodgson partners Morgan Kelly and Peter Gothard were appointed Voluntary Administrators of Mosman Rowers Club on 7 May 2018, following the approval of the Independent Liquor and Gaming Authority.
The club is temporarily closed whilst Ferrier Hodgson works closely with members, creditors and other key stakeholders to resolve its financial distress.
“We are working on various options to secure the long-term viability of this iconic club and have made positive progress”, Mr Kelly said.
Options being explored include securing a long-term extension of lease for the site at Mosman Bay and identifying a suitable catering partner.
“As part of any rescue package, we will need to raise funds to resuscitate the club and ensure its ongoing viability. We are exploring the possibility of doing this via a member levy or special member contribution and would welcome any expressions of interest in this regard”.
A meeting of creditors is scheduled for 12 June 2018, where the Administrators will give an update on the progress of a rescue package.
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