Australian LGBTIQ publication Star Observer has announced the company has entered voluntary administration and is up for sale.
The publication announced on Thursday the board of directors of the company, Gay & Lesbian Community Publishing Limited, had appointed Trent McMillen from MaC Insolvency as administrator on Friday, May 10.
Advertisements
Cash flow is the lifeblood of any small organisation, Star Observer chairman Sebastian Rice said.
The Star Observer is an LGBTI community owned not-for-profit that has always relied on advertising revenue to raise money. We do not receive any government funding.
The board saw an unexpected slowdown in our advertising clients paying their bills, which caused us to run low on cash in the bank.
We needed…
Read the full article at: https://qnews.com.au/lgbtiq-publication-star-observer-goes-into-voluntary-administration/