A beloved US burger franchise which had big plans to expand into Australia has entered voluntary administration. Late yesterday, KPMG’s David Hardy, George Georges and Emily Seeckts were appointed administrators of CJ’s Group, which is the master licensee for Carl’s Jr in Australia. The burger chain, which opened its first store in Australia in 2016,…
History repeats itself as Fisker, the electric automaker started by car designer Henrik Fisker, faces a series of challenges that could potentially result in the company filing for bankruptcy. The timing of this is interesting if you consider all the negative press, but it’s probably best to weigh the bad buzz against all the other…
Melbourne-based tech start-up E-Mersion Media has sensationally collapsed with debts of over $12 million. According to liquidator Mathew Gollant’s report, the company, which specialised in digitising traditional print magazines, had been at a loss since its inception. The media-tech company only managed to make four sales in the four years it was in operation, coming…
Sam Bankman-Fried, former CEO of the bankrupt cryptocurrency exchange FTX, presided over a spectacular collapse that cost his customers billions of dollars. He argues in court filings that anyone owed money by FTX “will eventually be paid in full”. The US government says he’s living in a fantasy land. He was sentenced to 25 years…
In short: Travellers are stranded in Vanuatu after the country’s national airline cancelled international flights until Sunday. The airline confirmed its owner, the Vanuatu government, is considering putting it into voluntary administration. Australian tourists booked to fly back on the airline are waiting to hear when they can travel home. Australian tourists are stranded in Vanuatu…
Hydroponic farming, a method familiar to those growing crops such as lettuce in greenhouses, is not a new concept. However, recently, a water-based cultivation project stood out. The project’s floating island was showcased at the Floriade in Almere. Its first harvest took place in the summer of 2022. This experiment was a collaborative effort by…
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Tigerlily has been rescued once again with Seafolly purchasing its swimwear competitor out of its second voluntary administration. Boho swimwear brand Tigerlily has once again been lifted out of voluntary administration, this time by fellow swimwear brand Seafolly. Tigerlily was founded nearly 25 years ago in Sydney. The swimwear company fell into voluntary administration for…
German tennis legend Boris Becker was discharged from bankruptcy court in London after a judge found he had done “all that he reasonably could do” to repay creditors tens of millions of pounds. Becker fell far short of repaying his creditors nearly $95 million he owed, but Chief Insolvency and Companies Court Judge Nicholas Briggs…