The online auctioneer, Auctionata Paddle8, which merged last May, has filed for insolvency to restructure the business. The Berlin-based parent group announced on 19 January that it is holding several conversations with investors about future funding for Auctionata. Meanwhile, Paddle8 announced it has found an investor to buy back the New York-based company, which is…
A courtroom at the new David Malcolm Justice Centre. Picture: Mogens Johansen/The West Australian.Picture: The West Australian A carpentry subcontractor has been placed into liquidation after it was unable to recover $71,000 it says it is owed by commercial and residential builder Builton Group. Builton builds home and land packages, turnkey strata developments, inner-city apartments…
Share Tweet Share Share Share Email BCBG announced plans to close stores and restructure the company due to mounting pressure from its debt burden and more consumers opting to shop online. The retail chain plans to shut down a number of brick-and-mortar shops and refocus on licensing, eCommerce and selling through other retailers, Seth Lubove,…
Units being constructed at ABT Construction in 2015. Picture / Doug Sherring. A company once touted as part of the solution to Auckland’s housing crisis with its fast-turnaround pre-fabricated dwellings has been put into liquidation over unpaid bills amid reports of frictions within its management team. Liquidators Peri Finnigan and Boris van Delden believe ABT…
Many directors see liquidation as the death knell of their business, yet by changing our view point slightly, we can get a lot more from the whole process. Take a deep breath and have a long, good look at your old business this is the beauty of liquidation. You get breathing space, something you probably…
Quickflix appoints Ferrier Hodgson as voluntary administrator exit ASX-listed video streaming pioneer Quickflix has called in a voluntary administrator after a restructure and cost cutting failed to save it from increased competition. In a note to investors, founder and chief executive Stephen Langsford highlighted a shareholding by rival streaming service Stan as a key stumbling…
Rio Tinto Group and its largest shareholder Aluminum Corp of China have terminated their joint venture established to find copper deposits, as global mining companies tighten exploration budgets. Chinalco Rio Tinto Exploration Co, a joint venture between Rio and Aluminum Corp, also known as Chinalco, was launched in 2011 to seek out deposits in China and…
IR prompted strategic review that led German utility RWE to split in two Over the years, IR has grown from a financial communications channel to a key adviser to management teams and boards. Nowhere is that more apparent than the recent corporate restructuring at German utility RWE, where IR first prompted a strategic review and…
By Naomi Tajitsu | TOKYO Bidders for Japan’s Takata Corp (7312.T) are pushing for a court-mediated turnaround for the embattled air bag maker’s domestic business, a source said, a strategy the company opposes and news of which sent its shares tumbling 17 percent. Takata is in the process of selecting a financial backer as it…
[TOKYO] Takata shares plunged 17 per cent Thursday on a report that two rival suitors are set to propose bankruptcy restructuring plans for the airbag maker at the centre of the biggest-ever auto safety recall. The stock fell by its maximum daily loss limit to close at 717 yen after trading had been suspended in…