Digital agency Bluearc to be liquidated after slipping into administration for second time

BluearcIndependent digital agency, Bluearc, and its sister companies are set to be wound up almost two-and-a-half years after first going into voluntary administration. 

Placed into administration at the end of 2014, Bluearc was able to continue trading after agreeing to a deed of company arrangement – a formal arrangement between the company and its creditors, which included staff made redundant at the time, who had agreed to the plan to enable the company to keep trading.

However, last month it was placed back into administration, with the company telling creditors there was insufficient work to continue trading.

“Bluearc Group was originally put into administration a few years ago and then went into a deed of company arrangement which was working until recently when the director advised me that there wasn’t enough work as was needed to sustain the business,” said Ian Purchas, executive director of SV Partners, who is acting as administrator.

A meeting of creditors was held in Sydney this week, with agreement that Bluearc Group, Bluarc Services and Canvaslane would be wound up.

Among the clients the agency has worked with are Marcs, Jenny Craig and Freedom Furniture.

“As a result of the company being unable to satisfy the deed of company arrangement, we needed to put it in liquidation,” Purchas told Mumbrella.

The company was originally put into voluntary administration back in November of 2013 with a number of staff made redundant at the time. 

Purchas would not confirm how much was owed but confirmed staff were among the creditors.

“We have general figures (on how much is owed) but until we firm them up I’d prefer not to talk about them,” said Purchas.

“Staff are owed money from the original voluntary administration and then the staff from the liquidation of those companies are also owed money, but it is my view that those entitlements will be covered under the entitlements guarantee legislation.”

Recently, digital agency Dcodr, content marketing company Brand New Media and sales house Inception Digital have all gone into administration.


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