This is ordinary. Only a few months back they were paying...

This is ordinary. Only a few months back they were paying dividends and were talking about the company's continued improved position. ??
Now this ?? The owners of this business sold most of their shares for $1 at the initial float. They could have bought this business back for say 20c per share instead of appointing an administrator. Like a lot of shareholders in Aust. Public companies I gave also had enough of this happening.
Hopefully we will see yet another class action.