Morgan Lane and Michael Peldan, partners Worrells Brisbane were appointed liquidators of Australian Commercial Publishing Pty Ltd (trading as Australian Property Investor) on 20 December 2016 pursuant a creditors’ voluntary liquidation by its director.
The Australian Property Investor magazine, a Brisbane-based business, has ceased trading after about 20 years. The magazine is Australia’s biggest selling property investment magazine (print and digital), claiming over 120,000 monthly readers.
The reasons for its insolvency are yet to be fully explored and investigated by Worrells. Some sources report a depleting source of advertising revenue to be a cause, which print and digital media are traditionally dependent on; however, Worrells are still to investigate.
Worrells are calling for expressions of interest for the sale of the intellectual property. For more information on the asset particulars, Worrells can provide full details.
Expressions of interest close on 16 January 2017.
Employees of the magazine ceased employment prior to the winding up of the company. Their claims will be initially handled under the Federal Government’s Fair Entitlements Guarantee scheme (FEG).
Worrells are working with the director to get the best result for the company’s creditors and subscribers. Worrells appreciates the issues that the publishing industry is facing and hopes to get the best result for a long-standing and reputable publication.
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Interviews available:
Michael Peldan
Partner, Worrells Brisbane
michael.peldan@worrells.net.au
07 3225 4370