Strandline Resources (ASX:STA) said McGrathNicol Restructuring appointed Rob Brauer, Linda Smith, and Jason Preston as the company's receivers and managers, according to a Monday Australian bourse filing.
The appointments follow the company's decision to appoint Thomas Birch and Jeremy Nipps from Cor Cordis as voluntary administrators after failing to secure funding for working capital amid a debt restructuring process, a separate filing showed.
The receivers have assumed control of the company's operations and intend to continue operating on a "business as usual" basis while a sale and recapitalization or either process is undertaken, the filing said.
The first meeting of creditors is expected to be on March 6, per the filing.
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