Vertical 4 Pty Ltd and Abacus 49 Pty Ltd - Voluntary Administration

Vertical 4 Pty Ltd and Abacus 49 Pty Ltd, which collectively operate 25 Genius Childcare centres across the country, entered voluntary administration on 13 and 19 March, respectively, with Alan Walker, Nicholas Charlwood and Glenn Livingstone of WLP Restructuring appointed as administrators.

The company, which is owned by Melbourne businessman Darren Misquitta, has made headlines over the last several months for failing to pay its employees, many of whom had lodged complaints via the Fair Work Ombudsman. 

Mr Misquitta and several of his companies reportedly owe approximately $38 million to suppliers, landlords and the tax authorities.

The administrators are continuing to run most of the centres and already have an agreement to sell five of them.