‘We don’t expect to see a cent’: Dashdot clients losing hope as postmortem begins
The fallout from the collapse of a prominent national buyers agency continues, with liquidator Teneo saying it’s too early to say whether any money will be recovered.
As liquidator Teneo begins the process of sifting through the wreckage of collapsed buyers agency Dashdot, more than 100 customers of the business are facing losses that likely run into the millions of dollars.
On Monday, Dashdot founder Glenn ‘Goose’ McGrath told Capital Brief he’d been working to connect more than 100 Dashdot customers — who had paid it tens of thousands of dollars in upfront fees — with other buyers agencies to provide a “pathway forward” but some have already given up hopes of recovering their funds.
Meanwhile, Teneo senior managing partner Rebecca Gill, who has been appointed liquidator, told Capital Brief the business had minimal funds available to it at the time of its collapse and it was too early to say whether clients’ money would be clawed back.
“We’re still working with management to identify all of the potential creditors and also assist in any sale of business process,” Gill said. “The nature of how their business works, the customer lists, and which entity customers sit in, means we’re still working through all that.”
