Fast-growing research and development tax advisory BourkeHood has entered voluntary administration, with its high-profile founder highlighting cashflow challenges at the firm.
On Thursday, KordaMentha announced Kate Conneely and Rahul Goyal were appointed as voluntary administrators for BourkeHood Pty Ltd, trading as BourkeHood.
In a statement shared by KordaMentha, BourkeHood founder and CEO Jason Hood said the business was beset by cash flow concerns.
“While this was not an easy decision, [voluntary administration] was necessary to address the cash flow challenges we faced in our Australian operations and acknowledge the impact this may have on our clients and employees,” he said.
“And I want to assure them of my commitment to working with the Administrators and exploring the best path forward for everyone.”