The Body Shop operates about 100 stores in Australia and is said to be the most profitable international arm of the stricken business. However since the UK parent entered bankruptcy last month, the Australian subsidiary – and others around the world – have become creditors and their access to funds has been cut off. The…
Parents from at least 26 WA schools have been left out of pocket for professional photos of their children after a national photography business went under. Academy Photography Australia went into liquidation on May 10 with Anthony Phillips of Heard Phillips Lieberenz appointed as liquidator. Read the original article here
Report: Bruno Mars Has $50M Gambling Debt With MGM The Action Network Read the original article here
Premier Kings, a 172-unit Burger King franchisee, declared bankruptcy in late October after the death of its owner created operational instability. It’s the third Burger King franchisee to enter court proceedings this year. The company was founded in 2009 by Manraj Sidhu. He started with six stores in the Birmingham, Alabama, market and expanded in…
Rex Airlines enters voluntary administration The Examiner Read the original article here
Higher-than-expected inflation figures released today aren’t just bad news for home- and business owners banking on an early interest rate cut; they’re concerning for the more than 2.9 million Australians with student debt. The consumer price index (CPI) determines how much HECS-HELP and all other student debt increase under the annual indexation that takes place…
Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labor costs and a disastrous unlimited shrimp promotion. The Orlando, Florida-based company filed for Chapter 11 protection on Sunday, listing assets and liabilities of $1 billion to $10 billion each in its bankruptcy petition. The filing allows the company to keep operating…
There is cause for optimism. Inflation is falling and the beginnings of a global economic recovery is expected next year. But first, companies in the UK and beyond must survive some significant challenges: Looming profitability squeeze: While a global and UK recovery is in sight for 2025 (we expect 2025 GDP to grow by 1.5%…
March Madness is kicking into high gear this week, and concern over problem gambling is also top of mind. More Americans are betting on sports than ever before, since the legalization of online sports betting in nearly 40 states. U.S. adults are expected to make nearly $3 billion in legal bets on NCAA basketball games…
In short: Cash mover Armaguard is at risk of insolvency due to the declining use of cash. The nation’s leading financial institutions have been holding urgent talks about how to ensure communities aren’t left stranded without access to bank notes. What’s next? A draft plan for how to prop up Armaguard and find alternative means of moving money…