Allan Fletcher, president of the Fletcher Leisure Group, says the company has gone into receivership, but it’s part of a restructuring process that is necessary due to the company’s growth and an expected announcement of capital investment next week.
The receivership was announced on by PricewaterhouseCoopers here.
“The growth of the company has caused us to restructure and receivership was part of that process,” said Fletcher.
“The restructuring process is complete and we expect to have the announcement about a new investor next week,” he added.
“Furthermore, all inventory for the 2014 collection is in production and we do not expect to have any delays,” said Fletcher.
Watch GNN for more details next week.