Video and TV platform Big Un (ASX:BIG) has announced its wholly owned subsidiary Big Review TV has been placed into voluntary administration.
The company says the administration wil allow for restructure of the business via a Deed of Company Arrangement, and, will preserve value for shareholders of Big Un.
The AFR is reporting the move comes just days after the company’s financier FC Capital offloaded its exposure to an insolvency expert.
Big Un has been suspended from the ASX for more than three months as the ASX and ASIC investigate its conduct.
Big Un (ASX:BIG) last traded at $2.22 on the 16th of February 2018.