Newsroom Beloved kids party venue closing locations around Australia about 21 hours ago – KIIS1011

The Australian arm of Build-A-Bear Workshops has been placed into voluntary administration with ten locations around Australia to close almost immediately. The much-loved venue gives kids the chance to customise their own toy, and are often used for childrens parties. The company has 30 stores and other retail outlets around Australia but ten of those…

Insolvency Service Winds Up Fraudulent Art Investment Companies – Arts and Collections International

New York, yes, Paris, maybe, but you wouldnt think the tiny Welsh town of Blaenau Ffestiniog likely to be the centre of a million-pound art investment fraud. In fact the Insolvency Service, a government agency connected to the Department for Business, Energy & Industrial Strategy, has wound up two fraudulent art investment schemes, one in…

Advising clients appropriately to avoid illegal phoenix activity, a free CPD learning event – AccountantsDaily

This type of business fraud costs the Australian economy somewhere between $2.85 and $5.13 billion every year. (1) In 2017 alone, there were more than 20,000 phoenix operators in Australia. On average, each phoenix business leaves 44 other businesses in debt. And, phoenix activity jeopardises up to 67,000 employees per year. Domenic Calabretta, managing director,…

KPMG snares insolvency firm Ferrier Hodgson – The West Australian

KPMG, the smallest of the Big Four audit and consulting firms, has struck a long-awaited expansion deal by buying one of Australias best-known corporate insolvency firms, Ferrier Hodgson. The combination will create one of the countrys biggest restructuring, insolvency and forensic advisory practices, with 27 partners and more than 200 staff. The acquisition, announced today,…

Build-a-Bear Australia placed into voluntary administration with 10 stores to close – SmartCompany.com.au

The Australian arm of customisable toy retailer Build-a-Bear Workshop has been placed into voluntary administration, hours after its listed parent company in the US reported a 7.5% drop in revenue and sluggish growth in international markets, partially blamed on the collapse of Toys R Us and issues posed by Brexit. Matt Sweeny and Gideon Rathner…

KPMG signs merger with big name insolvency firm – AccountantsDaily

The merged business will be co-led by KPMGs National Head of Restructuring Services, Matthew Woods, and Ferrier Hodgson Practice Leader, James Stewart, with 27 partners and more than 200 specialists across Australia. Under the terms of the deal, KPMG Australia will acquire Ferrier Hodgsons business located in Sydney, Melbourne, Brisbane and Perth, with discussions with…