The resurfacing of Colorado Group comes just three months after receivers confirmed despite "more than 50" expressions of interest in the business, not one brand had been sold.
Earlier this week, receivers for the company announced the launch of a new retailing group, Fusion Retail Brands. The group will secure the future of brands Diana Ferrari, JAG, Mathers and Williams.
Fusion Retail Brands is owned by secured creditors Nomura, Anchorage Capital Partners, NAB and Ice Canyon. It emerged from receivership with 282 stores and 2200 employees.
Roberts said the key issue facing these brands previously was exposure to an over-geared balance sheet, but this has been restructured through the receivership process.
“Our debt has been reduced by 75 per cent and now we can get on with the business of growing these brands and making sure they reach their full potential,” he said.
Fusion Retail Brands will invest $40 million in capital expenditure and $30 million in marketing over the next four years in an attempt to improve customer service in-store and online.
As reported on www.ragtrader.com.au in June, Ferrier Hodgson confirmed that despite receiving "more than 50" expressions of interest in the business, not one brand had been sold.
"A range of possibilities exist and the receivers are in continued discussions regarding the future of the business," the company said at the time.
Colorado Group went into voluntary administration on March 30, 2011.
Notes from the first creditors meeting cite the Group's inability to service its $400 million debt, "deteriorating trade conditions" and "poor brand positioning" as the reasons for the Group going under.