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Major Aussie shopping platform collapses with no warning
Members of the sale site will no longer enjoy its unmatched limited time deals.
Online sales platform Click Frenzy has suddenly collapsed and entered liquidation.
The well-known discount hub was launched back in 2012 to capitalise off American style sales events like Cyber Monday.
It operated by offering scores of exclusive sales at a time from major brands that were unavailable elsewhere, with huge markdowns.
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The announcement of its liquidation came from an ASIC notice, which said the company will begin winding up. The decision comes after a meeting of general members of the company on March 30.
Click Frenzy, Power Retail in liquidation as global conflict hits travel sales
Online deals website Click Frenzy and media outlet Power Retail have fallen into liquidation, with its receiver pursuing an urgent sales campaign for both businesses and their assets.
Documents filed with the Australian Securities and Investments Commission (ASIC) show directors for Click Frenzy and Power Retail, both part of the Global Marketplace business group, on Monday resolved the companies be wound up.
Frank Lo Pilato and Adam Cormack of RSM Australia Partners were jointly appointed as administrators for both businesses, before a secured creditor tapped Chris Johnson and Andrew McCabe of Wexted Advisors as receiver.
In a statement, Wexted Advisors said the businesses report a combined annual revenue of approximately $7 million.
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