Technology services firm AWA has appointed PPB Advisory as administrator after more than a century of operation.
As the ABC reports, AWA began as Australasian Wireless Limited 105 years ago. The company, which originally manufactured radios and did radio broadcasting, changed its name to Amalgamated Wireless Australasia in 1913.
Later AWA turned to television manufacturing and broadcasting and, in recent years it has provided technology services government and the private sector. As ZDNet reports, the company’s clients have included Flight Centre, Hewlett Packard, Dimension Data, and the Department of Defence.
Administrator Phil Carter told the ABC that PPB Advisory is reviewing AWA’s business and operations with a view to preparing AWA for sale.
"Our priority is to maintain business as usual in order to ensure AWA's blue chip customer base continues to receive the support and service expected from AWA while we work with management and key stakeholders to achieve the best outcome," he said.
He added that the business was close to running out of money when administrators were called in.
Sydneysiders of a certain age will remember the years when AWA’s heritage-listed headquarters in York Street was Sydney’s tallest building. The art deco building held that title from 1939 to 1958.
The administrators are seeking expressions of interest for potential buyers of the business or its assets.