Australia’s largest and oldest LGBTI publication, the Star Observer, has gone into administration and is looking for a buyer.
The board of directors appointed Trent McMillen from MaC Insolvency as Administrator on 10 May, according to a statement on their website.
‘Cash flow is the lifeblood of any small organization’s chairman Sebastian Rice said.
‘The Star Observer is an LGBTI community-owned not-for-profit that has always relied on advertising revenue to raise money. We do not receive any government funding.’
“I want to thank our very dedicated staff and volunteers, who have put in a huge effort over the last few years.”
The administrator is exploring options to save the business, the statement says.
These include selling the business or proposing a Deed of Company arrangement to avoid liquidation.
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Author: Rik Glauert