Aussie Farmers Direct has gone into voluntary administration. The food delivery company blamed competition with major supermarkets and the influx of cheap imported produce for its demise. The 13-year-old business will close immediately, affecting about 100 franchisees, 260 employees and 100,000 customers around the country. No future orders will be delivered and refunds will be…
After being in business for over a decade, the online fresh food delivery company Aussie Farmers Direct has gone into voluntary administration. Chris Smith speaks to NSW Liberal MP, Craig Kelly. These guys have had a good run for at least a decade and they really brought some competition pressure. they had a good offering.…
Aussie Farmers Direct has gone into voluntary administration. The online grocer struggled to compete with major supermarkets Woolworths and Coles. 100 franchisees, 260 employees and 100,000 customers will be impacted from the closure. Aussie Farmers Direct, a pure-play online grocer with a home delivery network, has gone into voluntary administration after struggling to compete with…
The charity behind the Drop the Debt campaign to help developing countries stuck with problem borrowing is turning its attention to Britain, calling for government action to write off as much as £40bn in spiralling consumer debt. The Jubilee Debt Campaign, famed for its association with Bono, Bob Geldof and Muhammad Ali in aiding African…
The legal battle that has broken loose in the insolvency resolution process of Bhushan Power & Steel underlines the importance a confidentiality clause in bidding or deals involving mergers and acquisitions. The two bidders, Tata Steel and Liberty House, seem to know each others offer price and have been throwing that as an argument…
College graduates are entering the workforce with student loan debt averaging about $35,000. Some are finding a new partner in paying those huge monthly bills: their employer. Large companies such as health insurance giant Aetna Inc., Fidelity Investments and Estée Lauder have announced they are providing money toward student loans as part of their employee…
Wileyfox, the British smartphone maker that went into administration last month, has until the end of the month to find a rescuer before it faces liquidation. The company started selling budget handsets in 2015 via retailers such as Carphone Warehouse, but has struggled to compete against more established names and a rise in component costs…
ArcelorMittal is spoiling the bidding game of Essar Steel. Despite its lobbying with the Indian government, its illegal bid should not be cleared as it does not meet the eligibility criteria as per the current Insolvency and Bankruptcy Code (IBC), said VTB Capital, one of the two bidders for Essar Steel. ArcelorMittal is the…
Orissa Slurry Pipeline is a 253km pipeline that is responsible for transporting about half the raw materials for Essar Steels plant in Odisha. Mumbai: IDBI Bank Ltd is likely to initiate insolvency proceedings against Orissa Slurry Pipeline Infrastructure Ltd, the company that operates the pipeline supplying raw materials to Essar Steel Ltds Odisha plant, according…
NEW YORK/LONDON (Reuters) – The U.S. Department of Justice on Friday unveiled criminal charges against 10 defendants, including London-based brokerage Beaufort Securities Ltd, over their alleged roles in a more than $50 million stock fraud and a laundering scheme involving a late work by Pablo Picasso. FILE PHOTO: The exterior of the U.S. Department of…