06-07-2023, 10:32 AM
Yeah, unfortunately liquidation is pretty much the final nail in the coffin for any company.
If it had fell into administration there was a chance it could have been salvaged - maybe a restructure, maybe part sale, maybe reorganisation of debts (which are what kills most businesses where they owe more than they are either making or actually have on hand), but since the date is June 9 and the company went on May 31, it happened quite quickly (within 10 days) suggests administration was a non-starter (or became implausible) and the only way out now was to commence liquidation.
Still a chance somebody could cherry pick the company's assets if they make a decent offer for the core offering Network had (the release of archive material that nobody else gave a crap about and all the admin to make it work), but not sure if anybody wants the mantle and even if they do could they make it work?
If it had fell into administration there was a chance it could have been salvaged - maybe a restructure, maybe part sale, maybe reorganisation of debts (which are what kills most businesses where they owe more than they are either making or actually have on hand), but since the date is June 9 and the company went on May 31, it happened quite quickly (within 10 days) suggests administration was a non-starter (or became implausible) and the only way out now was to commence liquidation.
Still a chance somebody could cherry pick the company's assets if they make a decent offer for the core offering Network had (the release of archive material that nobody else gave a crap about and all the admin to make it work), but not sure if anybody wants the mantle and even if they do could they make it work?