Eternus Group et al. - Voluntary Administration

Eternus Group et al., a property management company based in Brisbane, Queensland, entered voluntary administration on 10 September.

According to the company’s LinkedIn profile, Eternus is an integrated property management and development services group specialising in accessible homes.

The group recently launched the Eternus Fund, a pooled wholesale investment fund that raises capital to indirectly support property developments. It is not clear whether the fund is impacted by the administration.

Jamie Harris, Mark Holland and Anthony Connelly of McGrathNicol were appointed voluntary administrators and said that they are urgently examining the best course of action for the company, but do not have funds to meet payroll costs. Accordingly, employees (between 50-200 according to the company’s LinkedIn profile) have been made redundant.