Managed services provider Novo IT, formerly known as AVC, has entered into voluntary administration after 28 years in business.
David Ian Mansfield and Neil Robert Cussen from Deloitte Financial Advisory were appointed voluntary administrators on 23 May. A first meeting of creditors is scheduled for 2 June.
The company currently employs approximately 30 people, all of whom are all still employed by the administrators, Deloitte confirmed.
David Mansfield, joint voluntary administrator and Deloitte Restructuring Services partner, told CRN: “The directors have indicated they intend to propose a Deed of Company Arrangement to creditors ahead of the second meeting of creditors, which will take place in July.”…
Read the full article at: https://www.crn.com.au/news/wollongong-it-solution-provider-novo-it-calls-in-the-administrators-463552