Happy New Year – the Small Business Insolvency Reforms Come to the Party – JD Supra

Bankruptcy

For many, 2020 has been the year to forget. The Coronavirus pandemic (COVID-19) has halted global economies and initiated recessions across continents and countries, including Australia. In an attempt to alleviate the financial impact of COVID-19, the Australian Government has implemented various reforms (both temporary and permanent) designed to provide relief to financially distressed businesses.…

Weilin cotton trader’s 20c payout offer banked by cotton creditors – The Australian Dairyfarmer

Liquidation

Agribusinesses and farmer creditors left out of pocket after the crash of failed Chinese-owned cotton marketer Weilin Trade have been paid 20 cents for every dollar they were owed. Weilin’s administrators suggest there is a chance a further small dividend of maybe one cent more could follow after the receivership process winds up. However, its…

Ulta announces corporate layoffs, merchandising restructure – Retail Dive

Restructuring

Dive Brief: As makeup begins a possible recovery, Ulta Beauty is laying off an unspecified number of corporate employees, a spokesperson told Retail Dive via email. The total number was “a meaningful, but relatively small number of our total associates,” the spokesperson said. The layoffs resulted from a restructuring that eliminated current and open roles…