A sale may be nearing for beleaguered franchise outfit Refund Home Loans, with three offers for the business reportedly on the table.
A letter from the company's administrator, SV Partners, has advised franchisees that draft contracts have been issued to two of three potential suitors for the business, with a third draft contract expected to be issued as well.
The administrator told franchisees it is awaiting response on any amendments required to the contracts, and assured the company's creditors it will be in their best interests for negotiations with the buyers to run their full course.
"Whilst the terms of all three offers are different, we believe that all three offers will provide creditors and franchisees with a better result than if the company is wound up and a sale does not occur," the letter said.
The administrator had initially targeted a sale prior to Christmas, telling franchisees in a letter sent in early December that contractual terms could potentially be finalised within a week.
Refund brokers still eyeing bid
Refund eyeing sale before Christmas