Tight schedule for Commander sale

McGrathNicol, receiver for failed company Commander, today said thatit planned to finish selling off Commander's businesses over the nextten to twelve weeks.

McGrathNicol, receiver for failed company Commander, today said that it planned to finish selling off Commander's businesses over the next ten to twelve weeks.

Former Commander
CEO Amanda Lacaze

(Credit: Orion
Telecommunications)

The group, appointed as receivers earlier this month, has split Commander into two parts for sale: the managed and professional services business and the telecommunications business.

The group has requested expressions of interest for the business be in by 26 August.

Interest has been running high for the assets, according to Peter Anderson, Partner at McGrathNicol, with Commander's turnaround plan launched in January having reaped rewards for the businesses.

"The work necessary to restructure these businesses to enable them to generate strong cash flows was largely completed by management," Anderson said.

A spokesperson for McGrathNicol said that around 60 companies had expressed interest in Commander before the official expression of interest advertisement was made.

Anderson said the sale should be concluded within ten to 12 weeks.

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