Collection House calls in administrators
End-to-end receivables management company Collection House has called in administrators after attempts to restructure its business and raise additional funding were unsuccessful.
On Wednesday, the directors of the company appointed John Park, Ben Campbell and Kelly Trenfield of FTI Consulting as voluntary administrators.
The administrators will conduct an independent assessment of Collection House and its business, while they engage with key stakeholders regarding funding options, and run an expedited sale and recapitalisation process for the company in parallel.
Trading in the company’s shares on the ASX will remain suspended during the administration period.
The company employs over 600 people across Australia, New Zealand and the Philippines.