A Queensland-based real estate startup that raised $1.5 million in funding last July has entered liquidation, after facing financial troubles when its shareholders disagreed over the direction of the business.
Administrators from Worrells Insolvency were appointed to Revalu8 Limited on February 13 and after a second meeting of creditors on March 10, a decision was made on March 20 to place the company in liquidation.
Worrells Partner Jason Bettles told SmartCompany this morning that funds for the business dried up after a disagreement between shareholders.
What led to the companys financial position is really just a disagreement between shareholders as to the direction the company should take. The shareholders were fundi…
Read the full article at: http://www.smartcompany.com.au/finance/queensland-real-estate-startup-revalu8-enters-liquidation-owing-close-to-900000-after-shareholder-disagreement/
