The scale of Dashdot Pty Ltd’s (Dashdot) collapse has been laid bare, with liquidators revealing hundreds of customers are collectively owed more than $10.5 million after the high-profile buyer’s agency entered liquidation.
The company entered voluntary liquidation in late May 2026, as reported by REB, with more details now emerging regarding the dire state of the company’s financial affairs.
The business was founded by Glenn “Goose” McGrath and Gabi Billing in 2019.
An initial report to creditors from Teneo Financial Advisory Australia, seen today by REB, shows 695 customers are listed as creditors for “prepaid services & refunds”, with claims totalling $10,594,079.
Prepayments and refunds to clients amount to a whopping 64 per cent of the total $16,572,792.80 owed to creditors, the liquidators’ report outlines.
It means clients who paid upfront for services that were not delivered are now caught in the liquidation process, ranking as unsecured creditors as liquidators attempt to recover what they can from the failed company.
The figures paint a stark picture of the company’s financial position at the time of its collapse.
The numbers behind Dashdot’s collapse
According to the liquidators’ report, Dashdot had total known liabilities of $16.57 million, against estimated realisable assets of just $70,674 – leaving an estimated deficiency of $16.5 million, before the costs of the liquidation.
REB exclusively revealed that over 96 per cent of Dashdot shares were transferred to an offshore holding company in the British Virgin Islands around two years prior to the company’s collapse.
Liquidators Rebecca Gill and Martin Ford were appointed to Dashdot Pty Ltd on 28 May 2026.
On their appointment, they took control of the company’s affairs, ceased trading and made the company’s approximately 40 employees redundant, citing minimal funds available in the company’s bank accounts.
The creditor list also includes $1.1 million in employee entitlements owed to 43 employees, $915,995 owed to the Australian Taxation Office, $413,735 owed to American Express, $134,671 owed to Meta, and $1.5 million owed to Mighty Partners.
All Dashdot employees worked remotely.
Increased Meta advertising costs, amongst other economic disruptions, were cited by the company as one of the compounding factors that accelerated its collapse.
A further $1.409 million is listed as owing to G Squared, the offshore holding company, while 17 customers are listed as being owed $41,869 in client referral fees.
The report also reveals Dashdot’s directors listed a related entity, Global Proptech Operations Pty Ltd, as owing the company more than $3.08 million. However, the directors do not consider that debt recoverable, with liquidators noting they will investigate the loan and report back to creditors.
Customers left waiting as liquidators probe Dashdot’s affairs
Dashdot operated as a real estate advisory business, providing services to assist property investors in acquiring investment properties.
It formed part of a broader corporate group, but the liquidators stress they have only been appointed to Dashdot Pty Ltd and not to related entities.
In consultation with the group’s secured creditor, the directors of other entities in the group are exploring the possible sale of group assets to a third party, which may result in a sale of the business or a sale of assets.
REB understands that it is unclear whether any liabilities will form part of any transaction.
“The liquidators said they are engaging with that process where it relates to Dashdot and will update creditors once the outcome is known,” the liquidation report said.
At this early stage, customers expecting refunds face an uncertain wait.
The liquidators outline that there are currently no funds available to meet refund claims, and any future payment to creditors will depend on asset realisations or recoveries from investigations.
Those investigations, standard in liquidation processes, could examine the company’s business, assets and affairs, including potential recoveries relating to insolvent trading, unfair preference payments, uncommercial transactions or unreasonable director-related transactions.
The liquidators say their investigations remain preliminary and that a further statutory report will be issued within three months of their appointment.
The liquidator’s fees are estimated to be $70,000-$100,000, according to the report.
For now, the numbers confirm the collapse is far larger than an isolated business failure, with hundreds of customers, dozens of employees, the tax office, major suppliers and lenders now exposed to the fallout.
More to follow.
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