ProActive Services, a Melbourne-based IT management consultancy with annual turnover of $13 million, has collapsed after 25 years.
The company has gone into liquidation, with its first meeting of creditors held on May 22. FTI Consulting’s Ross Blakeley has been appointed liquidator.
Blakeley told SmartCompany a general downturn in business was to blame for the collapse, with the company owing around $1 million to creditors.
“There could be additional liabilities on top of that in terms of employment entitlements relating to redundancy payments,” says Blakeley.
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All of ProActive Services’ 14 staff have been made redundant and the company has ceased trading.
The company was established more than 25 years ago and operated as both an IT management consultancy and training provider.
The company’s intellectual property assets, including training course material, customer databases and other associated intellectual property are now being liquidated.
“We are currently advertising the assets,” says Blakeley. “We will have to wait and see what value the market finds appropriate.”
He says he has already been approached in regards to acquisition of ProActive Services’ assets.
The collapse follows the folding of another technology consultancy company, AWA Limited, in March.