Receivers and managers appointed to Marbletrend

Receivers and managers have been appointed to MBD Corporation, a bathroom products maker which trades primarily under the Marbletrend brand.

Craig Shepard and Mark Uebergang of KordaMentha were today appointed Receivers and Managers of MBD Corporation and three of its subsidiary companies following the appointment of Mr Richard Cauchi, Mr Michael Carrafa and Mr Peter Gountzos of SV Partners as Voluntary Administrators.

Based in Bayswater, Victoria, Marbletrend has branches in New South Wales, Western Australia, South Australia and Queensland, as well as agencies in Tasmania and the Northern Territory.

The company sources, designs and manufactures bathroom products including shower bases, baths and vanity units. These products are sold via retailers such as Bunnings, Reece, Tradelink, and Mitre 10.

The company can trace its history back to the 1930’s and has been listed on the Australian Stock Exchange since 2007.

The receivers and managers have made it their priority to renew efforts to find a buyer for the Marbletrend business and potentially secure ongoing employment for its remaining employees. A skeleton staff will be retained whilst this process is conducted.

Shepard said in a statement, “We have taken steps to accelerate the sale of the Marbletrend business as a going concern. We are hopeful that a buyer for the business can be found to ensure the longevity of the brand, maximise the realisations and potentially preserve employment for some of the employees.”

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