Digital agency formerly known as Topia Project calls in administrator
The digital marketing agency formerly known as The Topia Project – run by Nyree Corby – has been placed into voluntary administration with debts of more than $1m.
Corby told Mumbrella: “I’ve done what I’ve done to save as many jobs as possible . There have been no client casualties.”
According to the Sun Herald newspaper, the agency owes 45 creditors a total of $1.4m. Details of the appointment of an administrator appear on the website of the Australian Securities and Investment Commission.
The Topia Project name and its assetts has been passed on to a company called Direct Media Consulting. The company now in adminstration was renamed from Topia to CHD Marketing Services. Corby is now CEO of the new, debt-free entity, called The Topia Project. The agency’s 16 staff will continue to work with Topia’s previous clients. Corby does not currently have equity in the new entity, although her contractual arrangements will potentially allow her to earn equity as the new company moves forward.