News: PGR PAS Group Enters Voluntary Administration, page-5

Yesterday's AFR (posted 00.13 hours):

The administrators of womenswear retailer PAS Group, which collapsed in May, received more than 30 expressions of interest and more than a dozen indicative offers for its assets, which include the Review, Black Pepper, Yarra Trail and Jets brands, and a contract design and manufacturing business, Designworks.

PwC administrator Stephen Longley said bidders were culled to a shortlist of about eight, with final offers due on July 20, adding: ‘‘Some parties might be interested in everything and other [parties] other parts of the group – that’s why we have a number of parties interested.

‘‘Our preference is dealing with bids that deal with the group as a whole, but there may be a scenario where different bidders make offers for parts of the group and if you put them together they might cover the whole group.’’

________

'Collapse' is a little theatrial, but I suppose the AFR feels obliged to entertain readers.

Final bids July 20.

Ash