Commander’s (ASCX:CDR) managed services and its telecommunications businesses have officially been put up for sale.
In a statement today, Commander’s receivers, McGrathNicol, said it will attempt to sell the business in two units: Its managed and professional services business, along with its telecommunications business supported by its national franchise network.
McGrathNicol was appointed as receivers to Commander on August 7 after the company went into voluntary administration. The receivers have since continued trading while they readied the business for a sale.
“Interest in advance of advertising has been very robust for both businesses,” Peter Anderson of McGrathNicol said in the statement. “The work necessary to restructure these businesses to enable them to generate strong cashflows was largely completed by management and we expect to consummate sales of the respective businesses over the next 10 to 12 weeks.”
A spokesperson for McGrathNicol added it had received 60 expressions of interest so far.
Questions have been raised about how Commander's demise will affect its Commander Centre franchises. The spokesperson confirmed that while the franchise owners still own their individual businesses, their operation agreements are tied to Commander and will therefore be sold off as part of the sales process.
Several of Commander’s rivals told ARN last week that they had already put in expressions of interest for parts of the business. Others, such as Sydney-based integrator, Ethan Group, have launched national advertising campaigns in a bid to win over Commander customers.
The expressions of interest period will close on August 26.