Friday Flyer company now in voluntary administration

FRIDAY Flyer, a newsletter which has been promoting Gold Coast businesses since 2010, has crashed.

Owners Wayne and Jo Sherline have put their Friday Flyer Publications company into voluntary administration.

Jason Bettles, of insolvency firm Worrells, said the move was a result of Mr Sherline facing health problems.

“These were impacting on his ability to run the daily operations of Friday Flyer,” he said.

The Sherlines started their business from a garage at their home during the GFC, believing local businesses were the backbone of the Australian economy and the foundations and building blocks of the Gold Coast community.

They built the free newsletter into one with a weekly print run of nearly 160,000 copies.

The newsletter was being distributed across the Gold Coast and Tweed shire.

A report by Worrells shows Friday Flyer Publications owes unsecured creditors $179,106 and the Australian Taxation Office $33,789.

Mr Bettles said a sale of the business was being explored and that creditors should know within two months whether they would get a return.