The news follows a long and bitter legal battle between Durie and his former employee Mike Curnow, who had worked as the company’s global head of licensing.
Mr Curnow first joined the company in 2004 and was let go in 2013
Curnrow launched legal action against Durie regarding alleged unpaid commissions and in March, the Supreme Court ruled Mr Curnow was owed $563,049.
According to the Sydney Morning Herald, Mr Curnow had still not been paid that initial sum by April, and so his legal team filed a creditor’s statutory demand for the payment, which was due by May 4.
But just one day before that deadline, Durie placed his company into voluntary administration, claiming the former multimillion-dollar business now had just $1 in the bank.
Mr Curnow told the Sydney Morning Herald, 'This has cost me my marriage, my home and my career. If he thinks I’m going to give up now, he’s mistaken. I’m not going anywhere.'
The publication further reports JPD Media and Design also owes other creditors, including the Australian Taxation Office, with Fairfax media alleging the company owed the ATO more than $215,000 in unpaid taxes for the 2016/2017 financial year.
Durie is yet to formally respond to news of his voluntary administration.