ORDER has entered voluntary administration, leaving the players and staff under a cloud.
AUSTRALIA – Melbourne-based ORDER faces an uncertain future with the company entering voluntary administration to avoid total collapse. The organization is currently carrying about AU$200,000 in outstanding debt despite having raised AU$5.3 million in capital just last year. The lingering impact of the COVID-19 pandemic as well as cashflow issues were significant reasons behind the sudden collapse of one of Oceania’s largest esports organizations, according to a report by Dot Esports.
The move was confirmed in a notice of appointment released by the Australian Securities and Investments Commission (ASIC) on August 12, with Shane Cremin of Rodgers Reidy appointed as a voluntary administrator of Order Esports Pty Ltd. In addition to providing an overall assessment and rearranging financial affairs, the appointed administrators will soon move ahead with a public sale, in which “a dozen interested parties” are already at various stages of consideration.
“The business [ORDER] is for sale and not completely dead yet. Interested parties should contact the appointed administrators,” stated Chris “GoMeZ”…