What this means is that Team Bondi remains under pressure to sell off assets and cut costs, although their best-case scenario would be a generous investor or buy-out. However, this may prove to be difficult given the huge PR fiasco the company suffered during , which came as result of the studio's . A that Team Bondi would be merging with filmmaker Greg Miller's Dr.D Studios and Kennedy-Miller Mitchell Films group only turned out to be half-true, as Team Bondi boss Brendan McNamara actually sold off the developer's .
Overall, it's not surprising, as many employees at KMM formerly worked under Team Bondi, and likely protested a merger, if that option was indeed on the table.
However, the real question is if (and most likely, when) Team Bondi as a development studio will cease to exist.
Now, filed at the Australian Securities & Investments Commission reveal Bondi is under external administration.