Major Chinese semiconductor company goes bankrupt — 23 others recently withdrew IPO applications

Bankruptcy

Credit: SMIC China’s semiconductor industry is facing a resurgence of unfinished projects as smaller companies go bankrupt, reports the China Times. Recent insolvencies, such as that of Shanghai Wusheng Semiconductor, have raised concerns about widespread closures. Additionally, the market has seen 23 semiconductor companies withdraw their IPO applications since last year, which reflects growing investor caution.…

Montessori childcare chain Precious Cargo goes into voluntary administration after 18 years of trading

Liquidation

In short: Childcare group Precious Cargo has gone into voluntary administration. Founder and director Cheryl Shigrov says seven operating childcare centres are affected in South Australia. A further four non-trading entities are in liquidation. What’s next? She says the childcare centres will remain operational until a buyer is found. A Montessori childcare chain that has…

HECS reform “not a material change”

Debt Help

Student debt was previously just indexed to the Consumer Price Index (CPI) inflation rate, but the 2024 budget will change this to the lower of the Wage Price Index (WPI) or CPI. This will be backdated to retroactively apply to last year’s indexation (7.1%), which the government estimates could wipe more than $3 billion from…

Booktopia in administration after troubled automated warehouse move – Hardware – Software

Liquidation

Booktopia has entered voluntary administration after struggling with the expense of transitioning to a $12 million robot-enabled warehouse facility and to raise further funds. The Australian e-tailer began building a new highly automated customer fulfilment centre (CFC) in Sydney last year in a bid to support future expansion. However,… Read the original article here