Signpedia is a deaf-owned and operated service provider delivering nationwide services and support to the Australian Deaf community and other Auslan users. The business primarily generated revenue through funding under the National Disability Insurance Scheme (NDIS).
At the time of our appointment, Signpedia employed approximately 140 staff and supported over 400 patients across Australia.
Prior to our appointment as Administrators, the business relied on substandard accounting and bookkeeping advice and services, particularly regarding its taxation and state payroll tax obligations. This led to a payroll tax audit and revised total taxation liability in excess of $1 million, creating immediate cash-flow pressure and prompting the appointment of Simon and his partner as Administrators.
During the administration period, a comprehensive business restructure was implemented. Key initiatives included changes to external financial advisors, the closure of non-essential premises, targeted workforce adjustments, a full reconstruction of the financial accounts, and the introduction of enhanced operational and human resources systems and processes.
The review also identified opportunities to strengthen internal financial capability and governance. A dedicated business management function was established, improving oversight, reporting, and decision-making and positioning the business for long-term sustainability.
A Deed of Company Arrangement (DOCA) was subsequently proposed and received overwhelming support from creditors. Signpedia continues to trade successfully under the DOCA, preserving jobs and ensuring continuity of services to the Australian Deaf community.
How did we assist?
- Appointed as Administrators to stabilise the business during severe cash-flow distress.
- Implemented a comprehensive business restructure across finance, operations and HR.
- Replaced substandard accounting and advisory services with suitably qualified professionals.
- Reconstructed financial accounts and addressed payroll tax and taxation exposure.
- Closed non-essential premises and undertook targeted workforce restructuring.
- Introduced stronger internal financial governance, systems, controls and reporting processes.
- Established a dedicated business management function to improve ongoing oversight and decision-making.
Outcome
A Deed of Company Arrangement was successfully proposed and overwhelmingly supported by creditors. The business continues to trade, preserving over 140 jobs and ensuring continuity of support services for more than 400 NDIS participants. The restructure strengthened financial governance, improved operational stability, and positioned the organisation for sustainable long-term success.
