Perth-based National Franchise Insurance Brokers (NFIB), a Steadfast member, has entered administration.

Administrator Cor Cordis is seeking urgent expressions of interest for the recapitalisation or outright purchase of the business.

The assets include “the business as a going concern, client base and relevant infrastructure including software, intellectual property and trademarks in operating the business”, according to an advertisement in the Australian Financial Review.

NFIB was established as an insurance solution for the Australian franchising sector.