It is with great regret and sadness that we report on the appointment of a liquidator to Peter Wagener's group of companies. We have been aware of the voluntary administration since September - and the herculean effort by Wagener and his team to restructure and exit VA. However, the cancellation of a commercial lease has been a burden too far and the Wagener group of companies is in liquidation.
Peter Wagener has issued the following statement, which is all we need to report at this stage.
Navigating New Horizons - A Message from All Flags, Signs and Banners CEO, Peter Wagener
Dear Valued Customers and Industry Partners,
It is with a heavy heart that we share this news regarding the recent developments at All Flags Signs and Banners, All Signs, Euro Poles, and Pennant House, Despite our initial optimism surrounding a potential solution and restructure, an unexpected turn of events late last night (Weds 22nd November) has compelled us to transition from voluntary administration to liquidation.
Following our previous announcement detailing the challenges imposed by the WA border closure and the ongoing impact of the COVID-19 pandemic, our management team was actively pursuing solutions to secure the future of all companies, However, we received notification that the landlord of our commercial lease has terminated the agreement, leaving us with no choice but to take this regrettable step.
The termination of our commercial lease has come as a severe blow, and it is with a heavy heart that we were forced into the difficult decision to move from voluntary administration to liquidation.
Despite this setback, I want to assure our very loyal customers, and the Australian events and sports industry whom we have served for three decades, that we have re-grouped.
Thanks to our very loyal staff and customers we are in a position now, to state we are restarting in early December and will be ensuring all our supplies will be paid in full. We are very conscious to make sure everything is legal, ethical and above board.
We are committed to the industry, supporting it fully and working to developing new products also in the years ahead. Our staff are excited to be able to continue to serve our clients into the future.
Please don’t hesitate to contact me if you have any questions. "
Wide Format Online looks forward to reporting on the re-start of Europoles, All Flags and Peter Wagener's other enterprises in December.