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Beauty clinic operator Wellness & Beauty Solutions (ASX:WNB) has fallen into voluntary administration.
The move comes nearly 2 months since it failed to lodge its quarterly report and has been suspended ever since.
Shareholders were informed the administrator, Laurence Fitzgerald of William Buck, had formally assumed control of the groups assets and said he would try to maximise the outcome for all stakeholders.
This essentially means the administrators will try to avoid a liquidation of the company potentially by finding a buyer for the companys assets.
The collapse comes just 2 days after the expiration of the JobKeeper wage subsidy which the company told shareholders in last years June quarterly it rec…
Read the full article at: https://stockhead.com.au/news/wellness-beauty-solutions-enters-voluntary-administration/