B & J Meltz
The company, a national discount chain selling a wide range of merchandise experienced losses as a result of a combination of factors including increased distribution costs, margins steadily declining, the recession and downturn in the global economy and increased competition.
Matuson & Associates were able to secure post commencement funding (PCF) to continue trading, and maintained continuity of stock from suppliers.
The business was successfully sold with value being realized for creditors in excess of what would have been achieved in a liquidation.
Matuson & Associates received the Turnaround Management Association of South Africa runner up award in the medium to large Business Rescue category in 2014 for this successful Business Rescue.
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