Things are moving at warp speed at BWX ... well, at least in the past three days.
The beauty roll-up’s lender CBA called in KPMG as receivers on Tuesday, after BWX hired FTI Consulting as voluntary administrators on Monday – which in turn followed CBA pulling the plug on debt extensions over the weekend.
The influencer-led brand was left out of the receivership. Melbourne’s Canterbury Partners has been running the sale and is understood to be advanced in its attempts to find a new buyer.
All eyes are on Tattarang, which is nursing losses on the equity side, but is being tipped to have a thorough look at Go-To Skincare.
Over at David Jones, new parents Anchorage Capital Partners were in for a tough meeting with landlord Scentre, which runs the local Westfield malls.
The department store, which was acquired by Anchorage Capital Partners in a deal that closed last week, has 19 stores in the shopping centre giant’s properties.
Navis – an Asia-based private equity firm with a Sydney office – will seek to grow Caring Group’s various brands organically with plenty of scope for scale.
Plenty of changes at the investment bank, where the arrival of two new wealth management co-heads has seen a raft of senior figures heading out the door.
