SOURCE: Hilco Merchant Australia

Hilco Merchant Australia

May 22, 2016 19:00 ET

Retail Restructuring Specialist Hilco Merchant Resources Is Poised for Growth in Australia and New Zealand Under New Leadership

NORTHBROOK, IL--(Marketwired - May 22, 2016) - Global retail restructuring, disposition, and monetisation specialist Hilco Merchant Resources (www.hilcomerchantresources.com) announced today the appointment of Ben Chamberlain as the new Managing Director of Hilco Merchant Australia. Mr. Chamberlain, a banking, accounting and restructuring specialist, comes from senior roles at National Australia Bank and Ferrier Hodgson.

The new management announcement coincides with news that Hilco Merchant Australia will open a new office in Melbourne, Australia, which will become its national headquarters. Hilco Merchant Australia will retain its office in Sydney, led by Business Development Director Brendan Smyth, a retail valuation specialist.

"Since opening our office in Sydney in 2011, Hilco Merchant Resources has been committed to the Australian and New Zealand marketplace and we're very pleased with our steady and continued growth since that time," said Cory Lipoff, Non-Executive Director of Hilco Merchant Australia and Executive Vice President and Principal of parent company Hilco Merchant Resources. "The addition of Ben Chamberlain in this critical leadership role and the announcement of the opening of our second office in Australia demonstrates our ongoing commitment to the market and our growth plans for the future."

Hilco Merchant Australia opened its first office in Australia in 2011 when it was engaged in relation to the Borders' bookstore closures, which significantly exceeded expectations for creditors and proved the Hilco Merchant Resources' model had a vital place in this market. Since then, Hilco Merchant Australia has successfully completed 17 other transactions in the region, including: Dick Smith; WOW Superstores; Sleep City; Everyday Living; Allan's Billy Hyde; Mothercare; and Fletcher Jones.

The Dick Smith transaction, completed on May 3 this year, involved closing almost 400 stores in Australia and New Zealand and selling several hundred million dollars of stock, fittings, fixtures and equipment.

Mr. Fagan, a Hilco Merchant Australia Non-Executive Director, said Mr. Chamberlain's knowledge of restructuring and banking, combined with a shared enthusiasm and energy about the business, will be critical in furthering the education of the Australian and New Zealand market about the ability for Hilco Merchant Australia to deliver global best practice services in support of local strategic initiatives.

"Hilco Merchant Australia already has significant runs on the board in Australia and New Zealand, and the brand is recognised and respected by a specialised portion of the market," Mr. Chamberlain said. "It is time for us to draw back the curtain and reveal the full spread of services we can provide. We will demonstrate that Hilco Merchant Australia can deliver cutting-edge thinking to help retailers adopt the world's best practices to strategically dispose of stock or stores and improve business outcomes."

About Hilco Merchant Australia: Hilco Merchant Australia is the Australia-based unit of Hilco Merchant Resources, LLC, an international leader in financial repositioning and restructuring solutions for retail companies, both healthy and stressed. Hilco Merchant Australia delivers inventory solutions by combining its extensive analytical and algorithmic services with its experienced field team. As part of the Hilco Global network, Hilco Merchant Australia leverages the international experience and retail marketplace understanding that comes from completing thousands of transactions in 60 countries over the last 30 years.

Hilco Merchant Australia can structure solutions to meet any strategic need, from advisory and equity participation to debt provision.

Hilco Merchant Australia
T: +61 3 9321 7878
Level 11, 360 Elizabeth Street, Melbourne VIC 3000

For more information:

Ben Chamberlain
Managing Director
Hilco Merchant Australia
+61 427 088 493
bchamberlain@hilcoglobal.com

Michael Cave
Partner
StratHouse
+61 409 647 910
michael@strathouse.com.au

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