George Kenley, Dean Freestone, Mark Cook
Business

Administrators for epilepsy diagnostic medtech Seer Medical seek a buyer, with US expansion still on the cards

- January 28, 2025 2 MIN READ

Voluntary administration has not dampened the ambitions of medical device startup Seer Medical, which is seeking a buyer as it prepares to release the next generation of its epilepsy home monitoring and detection device in the United States. Administrator Lindsay Bainbridge of Pitcher Partners Melbourne said non-binding offers are being sought for Seer Medical for… Read more »

George Kenley, Dean Freestone, Mark Cook
Business

Breakthrough Victoria-backed epilepsy medtech Seer Medical placed in voluntary administration

- January 7, 2025 4 MIN READ

Troubled Victorian medical device startup Seer Medical has been placed in voluntary administration amid a product recall and legal battle with its ousted cofounder. Lindsay Bainbridge and Andrew Yeo from Pitcher Partners Melbourne were appointed administrators on January 6 following a pre-Christmas board meeting where the medtech’s directors voted to hand over the books. Pitcher… Read more »

Business

Tiger Global and Blackbird-backed AI-powered retail startup Hivery placed in administration

- November 12, 2024 2 MIN READ

Sydney retail technology startup Hivery was handed to administrators last week after nine years and nearly $63 million in venture capital. The books for Red Analytics, trading as Hivery, were handed to Christopher Johnson and Andrew McCabe at Wexted Advisors in Sydney on November 6. A first meeting of creditors is scheduled for Friday, November… Read more »

Business

Crowdfunding platform Equitise placed in voluntary administration

- November 7, 2024 3 MIN READ

Crowdfunding platform Equitise has been handed to voluntary administrators after cofounder Jonny Wilkinson failed in his own attempts to raise a $500,000 bridging round. Administrators Damien Mark Hodgkinson and Mohammad Mirzan Bin Mansoor from Sydney firm Olvera Advisors were handed the books on October 31. An initial creditor’s meeting will be held on November 12.… Read more »

Redflow
ASX

ASX-listed battery company Redflow handed to administrators after failing to find backers

- August 26, 2024 2 MIN READ

Brisbane battery company Redflow has been placed in voluntary administration and its shares suspended from trade just weeks after unveiling plans for a 5 MWh project with Queensland’s energy generators, Stanwell Corporation. Richard Hughes and David Orr from Deloitte were appointed voluntary administrators of Redflow and three subsidiaries by its board on Friday, not long… Read more »

Photo: Booktopia
Business

Shareholders lose out as digiDirect owner buys Booktopia

- August 19, 2024 3 MIN READ

Shant Kradjian, the owner of consumer electronics retailer digiDirect, has acquired the assets of failed ASX-listed Booktopia in a deal that will bring the online bookseller back online and out of administration. The sale price, which has not been disclosed, will not see a return to shareholders. Booktopia racked up debts of around $60 million,… Read more »

Business

EV charger maker Tritium survives after Indian buyer bags $45 million bargain

- August 12, 2024 2 MIN READ

Brisbane-based electric vehicle charger manufacture Tritium will live, but under new Indian owners. New Delhi-based EV charger manufacturer Exicom has scored a bargain, snapping up the rival business, at one stage worth $2 billion before it was handed to administrators in April, for $45 million (US$30m). The acquisition will save around 300 Australian jobs, but will… Read more »

ASX

End of story: ASX-listed online retailer Booktopia hits voluntary administration

- July 3, 2024 2 MIN READ

Online retailer Booktopia has been placed in voluntary administration less than four years after listing on the ASX. Shares in the Booktopia Group (ASX:BKG) had been suspended since mid-June after admitting the business had liquidity issues and sought funding for redundancies and working capital. McGrathNicol restructuring partners Keith Crawford, Matthew Caddy, and Damien Pasfield were… Read more »

The Daily Edited
Business

The retailer that bought luxury fashion startup The Daily Edited from voluntary administrators 15 months ago went into VA today

- April 4, 2024 2 MIN READ

Monogramed luxury fashion startup The Daily Edited (tde.) is back in voluntary administration, just 15 months after the brand was sold to former Myer boss Bernie Brookes. Marquee Retail Group (MRG), which scored tde.’s flagship store in Sydney’s Queen Victoria Building, when it bought the 10-year-old business in December 2022, handed the books to administrators… Read more »

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 »