TOUGH TIMES: Gary King's venture Universal Drones has gone into voluntary administration.
TOUGH TIMES: Gary King's venture Universal Drones has gone into voluntary administration. Tom Gillespie

Toowoomba drone business in voluntary administration

THE plan was for Toowoomba to become the agricultural drone capital of Australia.

Instead, businessman Gary King's venture Universal Drones was placed into voluntary administration earlier this month, just over a year and a half since the fledgling business opened its doors.

Anne Meagher, a director of insolvency firm SV Partners, was appointed administrator of the company.

The first meeting of the company's creditors was held earlier this week, on February 11.

Ms Meagher was unable to be contacted for comment before going to print.

>>RELATED: Toowoomba could become drone capital of Australia

Universal Drones' headquarters at 180 James St hit the market last week, and the empty shop front is now for sale or lease.

In an interview with The Chronicle before the store opened, Mr King said he had hired 10 staff to run the business' departments, including a research and development facility.

"There is no company in Australia that's doing serious R and D on drones," he said at the time

"Basically, in the back of our store we're going to have an R and D facility that will find out how we can advance drone use."

Mr King was contacted for comment.



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