Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 46 bankruptcies in week 29. This is 10 down on the previous week. In addition, 11 sole proprietorships were declared…
When will it finally sink in? No-one really cares about the deficit or the national debt, least of all the millions of Australians now facing the very real threat of a long period of unemployment, personal hardship and crisis. As Treasurer Josh Frydenberg and Finance Minister Matthias Cormann grimly fronted a media pack in Canberra,…
The Age and The Sydney Morning Herald can also reveal that a company closely linked to Unified Security, which had an almost identical name and operated from the same Sydney address, has been embroiled in a protracted liquidation process and as recently as February this year still owed unsecured creditors $4.5 million. Melbournes second COVID-19…
This is a small excerpt from our upcoming Power Edition, where Sakic reveals 5 lessons she learned to become a more successful retailer. You can subscribe here. One of the objectives of putting a business into voluntary administration is to see if a financially stressed business can be saved or restructured. If the answer is…
Andorra-based European LED screen and lighting manufacturer Llum Creativa, trading as ARCH LED, has been declared insolvent. An administrator, Lourdes Alonso Martnez, has been appointed by the court in Andorra and creditors have 30 days to make contact. The company was founded in 2003 by Belgian entrepreneur Sebastian Clement, and initially served the entertainment and…
Many Aussie retailers are feeling the financial strain and expect to explore restructuring or insolvency options in the next six months, new research from national business recovery and insolvency firm Jirsch Sutherland has revealed. The independent survey of over 1000 SME directors, almost one-fifth of whom are in the retail sector, identified the key sources…
German propulsion and machinery giant MAN Energy Solutions has announced a comprehensive program to secure the future viability of the company. The program includes extensive cost-cutting and restructuring measures that could see almost 4,000 jobs lost. MAN says it is preparing for a long period of stagnant sales as a result of Covid-19, and sees…
A LIQUIDATED Central Queensland mining labour hire company is being sued for $2.8 million in a workplace injury lawsuit. Michael Thorogood, 43, is suing One Key Workforce for negligence and breach of contract after he fell 1.5 metres to the ground, causing a severe wrist injury that required 10 surgeries. The claim was served to…
This is a small excerpt from our upcoming Power Edition, where Sakic reveals 5 lessons she learned to become a more successful retailer. You can subscribe here. One of the objectives of putting a business into voluntary administration is to see if a financially stressed business can be saved or restructured. If the answer is…