ORDER did not find a buyer - the organization is one step away from liquidation

According to the Dexerto portal, the Australian eSports organization ORDER has not found a buyer for its assets. Currently, the club is going through hard times and is on the verge of liquidation due to lack of funds to continue its activities. The contracts of the organization's employees have already been terminated as their teams finish their tournament performances and go into the sunset.

Despite raising a hefty investment of $2.94 million just 12 months ago, ORDER is just one step away from extinction.

One of the region's top clubs, which boasted five domestic championship teams, went into voluntary administration in August after the owners ran out of money. Two weeks have passed, the remaining employees could not find a buyer in time, and the days of the organization seem to be numbered.

Employees were fired on the grounds that they could not find a buyer to finance the business. The company has not been liquidated, although this will probably happen at the second meeting of creditors. Basically, this is a startup that many people have invested a lot of money in trying to invest in the best esports teams in Australia and stay ahead of the competition. The financial markets put their company in a position where earnings weren't as strong as expected and they needed more investment - David Holton, director of Rodgers Reidy, the firm behind the ORDER case

The contracts of ORDER employees were terminated on September 2, 2022. As a result, the entire staff and players were out of work. In the event of a club liquidation, employees and contractors will be paid their dues first, before any outstanding debts arise. These debts run into six figures.

It is noteworthy that the organization immediately found 17 interested parties, but only one or two of them seriously considered the option of buying ORDER assets. In turn, investors suspended support for the club in August due to "market volatility" and the global health crisis.

Recall that in recent months the organization has supported CS:GO, VALORANT, League of Legends, FIFA and Fortnite rosters.

Currently, the club's CS:GO team plays at the home ESL Challenger at DreamHack Melbourne 2022, but at the same time plays under the Grayhound tag. In turn, the League of Legends ORDER roster still plays under its own name, but its future is in great doubt.