Annecto Inc - Liquidation

Annecto Inc, a Melbourne-based aged care and disability care provider with approximately 1,000 employees and 3,000 clients across Victoria, NSW, Queensland and the ACT, has been placed into liquidation after previously entering voluntary administration on 7 July. Administrators Matthew Hutton, Melissa Smith, Katherine Sozou and Shane O'Keeffe of McGrathNicol were appointed liquidators.

When it entered voluntary administration, the company cited financial challenges facing the organisation, as well as service model shifts in the aged care and disability sectors, all of which left Annecto unable to continue operating.

The company’s more than 1,000 staff will receive between 21.4 cents in the dollar and 54.9 cents in the dollar. Approximately 600 staff have already been made redundant, while 264 have been kept on to assist with the wind-down and transition of clients to alternate providers (Uniting Care in NSW and the ACT, Uniting AgeWell in Victoria, and Anglicare Southern Queensland in Queensland). The remainder have resigned or had their contracts expire. Unsecured creditors are not expected to receive a return.