Planet Ark Environmental Foundation, a leading Australian environmental not-for-profit, has entered voluntary administration following a review of its financial position and future viability. The move opens the door for restructuring to secure the future of the organisation’s sustainability mission.
The organisation’s Board made the decision in light of ongoing funding challenges, compounded by the economic fallout from the COVID-19 pandemic and reduced stakeholder support. Voluntary administrators Michael Jones and Bruce Gleeson of Jones Partners Insolvency & Restructuring have been appointed to oversee the process.
In a statement, the Board said the move allows for “an independent assessment of the organisation’s affairs and…
