Finale for GrowthOps as liquidators called in
Integrated agency group Growthops has collapsed, with the once-ambitious collection of creative, consulting and tech companies under voluntary administration or in the hands of liquidators.
Formed in 2017 by founder Phillip Kingston, Trimantium Growthops listed on the ASX and acquired a range of agencies including AJF Partnership in Melbourne, Khemistry in Brisbane and Asia-Pacific Digital (APD).
Within two-and-a-half years, it had delisted from the ASX after a tumultuous journey marked by significant financial losses and a share price that began at $1.22 in March 2018 and ended at 5.3 cents by October 2020.
The ulimtate April Fools.
What was with their Linkedin post announcing it?
Will be interesting to see what comes out in the wash when all of this is wrapped up. From the outside it seems to be a masterclass in mismanagement and lack of direction.
Why you would acquire a renowned creative agency and force the key drivers of what made it successful out is baffling. At least they get the last laugh.