Dye and Company, the insolvency specialists, have been appointed as liquidators for IT education provider Excom Education.

Roger Grant, Victor Dye and Nicholas Giasoumi of the Melbourne-based company were named as liquidators according to documents filed with the Australian Securities and Investment Commission (ASIC). The appointment comes after a meeting in which the two directors and founders of Excom, Sydney-based Graeme Newey and Melbourne-based Paul Koukounaras, agreed to wind up the company.

The Commonwealth Bank of Australia was also named as a chargee (mortgagee) of the company in the documents. Also listed was CBFC Ltd, a fleet car financing company wholly owned by the CBA.

Excom has earlier closed its doors to students. The management of Excom has also informed vendor partners and staff of the development.

Excom students have received offers from rival training companies such as Dimension Data Learning Solutions and Advanced Training to finish courses at their institutions.