Specialist storage integrator, Enstor, has gone into voluntary administration after being unable to pay its debts.
The Sydney-based company appointed RSM Bird Cameron Partners as administrators on May 3. Administrator, Peter Marsden, said total debts were close to $3 million.
One secured creditor was owed $780,000, he added, but the company also had a substantial list of unsecured creditors owed in excess of $2 million.
RSM was now investigating why the company was unable to meet its financial obligations. The first creditors' meeting, scheduled for May 10, will focus on whether to appoint a committee of creditors. A second meeting to decide the future of the business is slated for May 31.
At the time of going to press, Enstor was operating on a heavily reduced capacity but Marsden predicted it was likely to cease trading.
Enstor provided storage and server integration, support and technical services for a range of local companies including ABN Amro, National Australia Bank, Qantas, Ernst and Young and several telecom providers. Its vendor partners included EMC, StorageTek, Brocade, ADIC, FalconStor and VMWare.
Enstor managing director, Terry Semple, was reluctant to comment on the decision to bring in administrators or the reasons for the company's demise. A few remaining staff were now winding up the company, he said.