Seafolly’s CEO, Brendan Santamaria, joined in May 2020. Administrators were appointed to the company shortly afterwards in the face of COVID-19 lockdowns. The business had been facing a number of headwinds in addition to COVID-19. Onerous supplier and leasing obligations locally and globally.The difficulties also being experienced to that point by the wider retail industry.Seafolly is a seasonal business. The summer of bushfires had taken a toll on sales.Seafolly’s delivery partner, Toll, suffered a series…

The “Fuelling the Recovery – Credit Investment Opportunities ahead” session at the TMA Conference looked into the crystal ball of issues and opportunities arising for investors in the current credit market. Although there is currently a huge weight of available capital, the panel saw opportunities arising in the following areas. Industry sectors which banks may be exiting. These create opportunities for alternative lenders. Thermal coal was mentioned several times in this context.Asset based lending (ABL),…