The rebranding of dealer group, Madison, to Sargon will not proceed as OneVue and the Sargon administrators work out the future of the business.
In an announcement to the Australian Securities Exchange (ASX), OneVue said Madison’s operating business was not subject to any form of insolvency proceedings and continued to operate on a business as usual basis.
OneVue and the receivers would work with Madison for the sale of the business and as part of the process the Sargon rebranding of Madison had ceased and the dealer group would continue under the Madison name.
OneVue managing director, Connie Mckeage, said: “We have known most of the Madison advisers for many years and we care about them and their business.
“The group has been through quite an unsettling couple of years and our main aim is to enable the advisers to get on with the day-to-day servicing of their clients without interruption.”