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…