Business
Pandemic-led hotels collapse sends iProsperity into administration – The Australian Financial Review
Administrators from Cor Cordis have been appointed voluntary administrators of 13 iProsperity entities after hotel income dried up due to the pandemic.
“It remains too early to determine whether a viable restructure plan can be developed, but we look forward to working closely with the iProsperity Groups stakeholders over the coming weeks.
Gary Sue Fong, chief operating officer at iProsperity, told The Australian Financial Review that with everything happening around the world because of COVID-19, its business had unfortunately been hit “very hard”.
“The majority of our assets are in the hotel and commercial space, where vacancy rates are ver…
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