Business
Administrators appointed at The Agency Group over outstanding debt – Domain News
Investment group Magnolia said it appointed administrators to real estate firm The Agency Group, adding that it had lost confidence in the board.
Administrators have been appointed to real estate firm The Agency Group over a disputed outstanding debt.
In a statement, investment group Magnolia said it appointed voluntary administrators BDO to pursue the real estate firm for its outstanding secured debt, after a security agreement was entered into almost a year ago.
The debt is understood to be just $379,000.
The investment group said it had lost confidence in The Agencys board and its unknown financial position.
Magnolia said despite raising…
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