MOZ) share price plummets amid insolvency fears

It is expecting to report a deeper loss for the 2024 financial year in the range of between $15 million and $20 million, partially driven by disruptions from a botched technology migration project involving a new logistical supply chain platform. This impacted Mother’s Day trading to a degree that was “greater than expected”, delaying the…

Bus manufacturer BusTech goes into administration, leaving hundreds of employees with uncertain futures

A bus manufacturer with operations in Queensland and South Australia has gone into voluntary administration. BusTech is the second-largest independent bus manufacturer in Australia, making diesel, hybrid and zero emission technology buses. It has more 270 employees across its two companies in Queensland and South Australia. Know the news with the 7NEWS app: Download today…

Rising collectable debt underscores corporate financial stress – Jason Lindeman

The latest ASIC release shows corporate insolvencies for June 2024 remain at their highest level since monthly data was first published in Jan-1999, with CCI’s discussions with business recovery and insolvency specialists suggesting the number will continue to increase.  The rising value of Australian Tax Office (ATO) outstanding collectable debt tells the same story, providing…