Ocean Guardian Holdings and Shark Shield - Liquidation

Ocean Guardian Holdings and its retailer-facing operation Shark Shield, the companies behind the “Shark Shield” shark-repelling technology, entered liquidation on 30 August.

The companies have been manufacturing electronically-powered shark deterrents for two decades. The devices, which are worn by surfers and divers or attached to their surfboards, work by emitting electronic pulses that cause glands in a shark’s snout to spasm, turning the shark away from the immediate area.

Ocean Guardian entered receivership in late May after two failed IPO attempts.

Olga Litosh of Quartz Advisory was appointed voluntary administrator on May 24, but couldn’t trade the business due to the receivership. She has now been appointed liquidator.