Leading Edge Group (LEG) has appointed a voluntary administrator to assess the company’s affairs and find options that will strengthen the financial position of the Australian business.
“After careful consideration, the board has resolved to appoint a voluntary administrator to the company. This decision follows many months of exploring every realistic option to strengthen the financial position of the Australian business,” Leading Edge Group chair, Peter Knock said in a letter to members.
“Throughout that period, the board and management worked closely with professional advisers to pursue capital raising opportunities, strategic partnerships, restructuring initiatives, cost reductions and asset sale options. While…