Grant Thornton Australia’s Matt Byrnes and Andrew Hewitt will now serve as liquidators after initially being appointed as administrators last month.

In a statement issued on Wednesday, Mr Byrnes and Mr Hewitt said they would continue to negotiate for a sale of the assets of the company, including internal fit-out, furniture and audio-visual equipment, in order to maximise the funds available for creditors.

“During the liquidation a more detailed investigation of the company’s affairs and books and records will be conducted to enable the liquidators to identify and pursue any transactions that may be recoverable for the benefit of creditors, and to provide a report to the Australian Securities and Investments Commission,” they said.

Hashtag has been closed since it entered administration and ceased trading on November 14.

The number of creditors and former employees seeking remuneration and how much money they may be owed remains unknown.