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A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Lifeline for Australian furniture firm Living Edge

Wednesday 21 April 2010

Australian designer furniture company Living Edge, which was placed in receivership last week, may have been thrown a lifeline by one of its major suppliers, US-owned furniture maker Herman Miller (Australia).
Receivers and managers McGrathNicol yesterday confirmed Herman Miller was considering making an offer for Living Edge\'s business, for an undisclosed sum, by the end of the month.
The offer would include Living Edge\'s existing customer contracts -- subject to due diligence.
It is understood that Living Edge\'s founder and major stakeholder Peter Griffin was removed from the business on the same day the receivers were appointed.
In November last year, the company took out a loan for $7 million according to documents lodged with the corporate regulator. The National Australia Bank appointed McGrathNicol as receivers and managers on April 12.
The fate of Living Edge\'s 75 employees is uncertain, with one staffer claiming he has not been paid his superannuation.
Living Edge\'s corporate and retail customers who have paid deposits on their designer furniture are also uncertain whether they would receive their goods as the receivers have frozen all assets.
\"Herman Miller have agreed interim arrangements with the receivers and managers to ensure trading continues until 30 April,\" the receivers said.
\"This non-binding offer signifies Herman Miller\'s commitment to both existing and prospective customers in the Australian market . . . \"

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