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Napoleon Perdis creditors approve $1.6m DOCA but not all are happy

Sue Mitchell

Last week Terry Yates, the owner of box maker DRP Cartons,  received an email from Napoleon Perdis Cosmetics.

Titled "URGENT & IMPORTANT – ENDING THE VOLUNTARY ADMINISTRATION & SAVING THE NAPOLEON PERDIS BRAND", it was a plea to creditors to vote in favour of a $1.6 million rescue proposal that would save the company from collapse and enable founder Napoleon Perdis and his wife Soula-Marie to keep their roles as creative and development directors.

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Sue Mitchell writes the fortnightly Window Shopping column for the Financial Review and has covered retailing for over 30 years. Connect with Sue on Twitter. Email Sue at smitchell2045@gmail.com

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    Original URL: https://www.afr.com/companies/retail/napoleon-perdis-creditors-approve-1-6m-doca-but-not-all-are-happy-20190408-p51bvp