Openpay Enters Liquidation: Cathro & Partners Appointed as Liquidators

Major Buy Now, Pay Later Firm Openpay Faces Liquidation After Financial Collapse.

Major Buy Now, Pay Later Firm Openpay Faces Liquidation After Financial Collapse

Openpay, a major player in the buy now, pay later market, has entered liquidation following its collapse earlier this year. The company, which had accrued more than $66.1 million in debts to creditors and owed significant amounts in unpaid wages, struggled to find a buyer or secure recapitalization. Simon Cathro of Cathro & Partners have been appointed as liquidators and administrators to manage the winding-up process. This development marks a significant turn in the fortunes of Openpay, which had listed on the ASX in 2019 but failed to achieve profitability since its stock market debut.

SERVICES

Services

Recent Articles

You receive an urgent email from the CEO requesting a payment be processed before the end of the day. The email looks genuine, the writing style appears familiar, the address is correct and relevant supporting documentation is attached. You know the CEO has been flat out on a new project

You receive an urgent email from the CEO requesting a payment be processed before the end of the day. The email looks genuine, the writing style appears familiar, the address is correct and relevant supporting documentation is attached. You know the CEO has been flat out on a new project

How a creditor-supported restructuring preserved regional childcare centres, protected jobs and delivered a materially better outcome than liquidation. The restructuring of the Believe Early Learning businesses is a practical example of what voluntary administration can achieve when a childcare operator has viable services but an unsustainable financial structure. The process

How a creditor-supported restructuring preserved regional childcare centres, protected jobs and delivered a materially better outcome than liquidation. The restructuring of the Believe Early Learning businesses is a practical example of what voluntary administration can achieve when a childcare operator has viable services but an unsustainable financial structure. The process

In this episode of The Cut, Chris Bergin, Cathro’s Principal in Melbourne, sits down with Julian Heatherich, Director of Commercial Sales at Savills, to discuss the current state of Victoria’s commercial property market. Drawing on more than 25 years of experience in real estate, Julian shares his perspective on the challenges facing

In this episode of The Cut, Chris Bergin, Cathro’s Principal in Melbourne, sits down with Julian Heatherich, Director of Commercial Sales at Savills, to discuss the current state of Victoria’s commercial property market. Drawing on more than 25 years of experience in real estate, Julian shares his perspective on the challenges facing