StrongRoom AI has fallen into administration after the board concluded there were doubts about its solvency, despite the pharmaceutical software start-up being valued at almost $70 million just two weeks ago.
Filings with the corporate regulator show HLB Mann Judd, a consulting and accounting practice with a specialised insolvency division, was appointed late on Friday. Lenders had already taken control of StrongRoom’s bank accounts earlier that day by appointing Walsh & Associates as receivers.
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Amelia McGuire covers technology from the AFR's Sydney newsroom. She was previously the aviation, tourism and gambling reporter for The Sydney Morning Herald and The Age. Connect with Amelia on Twitter. Email Amelia at a.mcguire@afr.com.au
Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
