Digital Classifieds Group (DCG), the Australian company that bought proptech firm Lamudi Indonesia in 2023, has entered into ‘External Administration’ or ‘Controllership’, according to a filing to the Australian Securities & Investments Commission, seen by DealStreetAsia.
The firm has appointed Daniel Peter Juratowitch, CEO of the advisory and restructuring firm Cor Cordis, as its ‘administrator’ and ‘controller’, according to the document.
The move signals financial difficulties and the administrator will help the company manage its challenges.
Voluntary administration is a legal process wherein a company that’s in financial trouble voluntarily appoints an independent administrator to help restructure its debt or…
