GoGet Stores - Take Home Essay/Problem - Management Assignment Help

Assignment Task:

Task:

GoGet Stores is a public company limited by shares. Stephanie, Nancy, Grace, Imran and David are directors of the company. The company held its last annual general meeting (AGM) in November of 2019 and intends to hold its 2020 annual general meeting on 30 November 2020. In June 2020, there was a fire outbreak at GoGet Stores, and it destroyed goods valued at over $50 million. As a result, GoGet Stores has been unable to make its monthly regular payments to Beveridge International (the supplier) and to other suppliers as at when due. The company is now considering new business options and is looking at engaging with Jovinick Ventures Pty Ltd on a new line of business.

Imran, David and Grace are uncomfortable with the idea of engaging with Jovinick because they are aware of GoGet’s financial situation. Nancy and Stephanie on the other hand are very excited to engage with Jovinick in the hope that it will get the company back on its feet. At the meeting of directors, Nancy and Stephanie voted in favour of trading with Jovinick. Although David did not like the idea, he was quiet and abstained from voting. Imran voted against the idea while Grace was absent and could not vote because she was on an official assignment outside the state and was unable to join the meeting virtually due to the nature of the assignment and because she had no internet reception. GoGet Stores commenced trading with Jovinick and received goods for the first 5 weeks but has been unable to pay Jovinick as at when payments were due.

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