Adrian Knack
Business

Queensland renewables startup Redback Technologies placed in voluntary administration

- March 11, 2024 < 1 MIN READ

Brisbane solar battery startup Redback Technologies has handed its books to voluntary administrators. McGrathNicol were appointed administrators of Redback Operations Pty. Ltd on March 5, as the company was in Sydney exhibiting at the Smart Energy Expo. Redback continues to trade as the administrators seek expressions of interest for the sale or recapitalisation of all… Read more »

piggy bank broken
Business

B2B BNPL BizPay, which hoped to list at a $400 million valuation, has been placed in voluntary administration

- November 28, 2023 2 MIN READ

Invoice payment buy now pay later (BNPL) fintech BizPay was placed in voluntary administration last week Jonathon Keenan and Peter Krejci from BRI Ferrier were handed the books as administrators on November 23. The company’s website says no new loans are being issued while a restructure is being explored. Ironically for a fintech offering a… Read more »

Laura Keily
Business

Legal disputes startup Immediation placed in voluntary administration after raising $19 million in six years

- November 2, 2023 2 MIN READ

Online dispute resolution platform Immediation was placed in voluntary administration last week, seven months after the startup’s founder and CEO departed amid a $2.8 million capital injection. Joanne Dunn and David McGrath from FTI Consulting were appointed administrators to 3 Australian entities: Immediation Pty Ltd (the head company), Immediation Platform, and Disputech IP Holdco, on… Read more »

Nourish Foods cofounder Monica Meldrum
Business

Nourish Foods is up for sale after being placed in voluntary administration

- September 6, 2023 2 MIN READ

Nourish Foods Pty Ltd, the parent company of organic children’s food brand Whole Kids, has been placed in voluntary administration, just months after it failed to raise $1 million via crowdfunding.   The 18-year-old B Corp-certified family business is now being put on the market by administrators Tim Heesh and Mark Everingham of TPH Advisory after… Read more »

Sans Drinks founder Irene Falcone
Business

Last drinks: Nourished Life founder’s latest startup, Sans Drinks, placed in administration

- July 25, 2023 2 MIN READ

Nourished Life founder Irene Falcone’s latest startup venture, Sans Drinks, has fallen victim to the challenging retail environment, with the business handed to administrators. Jirsch Sutherland partner Andrew Spring was appointed administrator of The Non Alcoholic Drinks Co Pty Ltd, trading as San Drinks, on July 17. Spring said it was “still early days in… Read more »

Everledger founder Leanne Kemp
Business

Brisbane blockchain provenance startup Everledger placed in administration after funding evaporates

- May 9, 2023 2 MIN READ

Blockchain provenance startup Everledger has been placed in voluntary administration after an existing investor failed to follow through on the 2nd tranche of their funding. The Brisbane tech company, founded in 2015 by former Queensland chief entrepreneur Leanne Kemp, offers supply chain traceability using blockchain, artificial intelligence, intelligent labelling and Internet of Things. They were… Read more »

Business

Sydney gourmet food marketplace ChefPrep is in administration, 7 months after rebranding as CoLab after acquiring its Melbourne rival

- April 4, 2023 3 MIN READ

If you’re after some gourmet food at a discount over Easter, CoLab’s new administrators, EY, are offering 30% off the marketplace’s best sellers until 11 April – 5 days after creditors will meet in Sydney to hear more about the financial status of the business this Thursday. The meal home delivery marketplace, which raised $3… Read more »

Mike Cannon-Brookes
Business

The $30 billion Sun Cable project hits voluntary administration amid falling out between billionaire backers Mike Cannon-Brookes and Andrew Forrest

- January 12, 2023 2 MIN READ

A $30 billion project to send solar-generated power made in Australia to Singapore has been placed in voluntary administration (VA) amid a reported falling out between its key backers, the tech and mining billionaires Mike Cannon-Brookes and Dr Andrew Forrest. Cannon-Brookes and Forrest are cornerstone investors in Singapore-based Sun Cable – the Atlassian co-founder through his private… Read more »

Brosa cofounders Richard Li and Ivan Lim.
Business

AirTree Ventures and Bailador-backed ecommerce venture Brosa hits voluntary administration

- December 16, 2022 2 MIN READ

Online furniture retailer Brosa is up for sale after the business was placed in voluntary administration this week. Richard Tucker and Michael Korda of KordaMentha were appointed Voluntary Administrators of the 8-year-old ecommerce company, which raised more than $7 million in venture capital from the likes of Airtree and ASX-listed Bailador Technology Investments. While Bailador… Read more »

Digital Surge cofounders Dan Rutter and Josh Lehman
Cryptocurrency

Brisbane fintech Digital Surge is the latest cryptocurrency exchange in voluntary administration

- December 9, 2022 3 MIN READ

Brisbane fintech Digital Surge is the latest cryptocurrency exchange to be placed in voluntary administration in the wake of the collapse of US exchange. Scott Langdon, John Mouawad and David Johnstone from KordaMentha Restructuring were appointed voluntary administrators on Thursday, after the fintech’s directors made the decision to put the business in VA on Wednesday.… Read more »

Cryptocurrency

FTX Australia is in administration

- November 11, 2022 2 MIN READ

The Australian arms of crumbling cryptocurrency empire FTX have been placed in voluntary administration. Scott Langdon, John Mouawad and Rahul Goyal of KordaMentha Restructuring took over as administrators of the Sydney-based cryptocurrency businesses  FTX Australia Pty Ltd and subsidiary FTX Express Pty Ltd on Friday following a board meeting earlier today that decided to place… Read more »

Ellume Covid-19 home test
Business

The Australian arm of Queensland biotech Ellume Health has been placed in voluntary administration

- September 2, 2022 2 MIN READ

Queensland biotech startup Ellume Health, which last year won a $300 million US government contract to supply Covid home testing kits, has placed its Australian business in voluntary administration. FTI Consulting were appointed as administrators of Ellume Ltd on Thursday. In a statement from FTI, administrators John Park and Joanne Dunn said Ellume’s directors appointed… Read more »