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Players and staff lose out as Purple Lounge liquidated

31st May 2012 10:48 am GMT

Media Corp has said that a financial review conducted by the company’s new management team has revealed historic operational and financial failings within the Purple Lounge business which make its continuing operation untenable.

As a result, the business has been placed into liquidation and all staff members made redundant.

The fallout from this extends beyond the company however, with Purple Lounge players potentially losing funds held in their Purple Lounge accounts.

Media Corp said Thursday that it [...]

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