21 June 2024 The Kirribilli Club Board has stepped aside and appoint the services of SV Partners to act as Voluntary Administrators of the Kirribilli Club effective immediately. “Unfortunately, due to a combination of overwhelming financial, operational and hospitality market circumstances we have exhausted all available options and have not come to this conclusion lightly. Mr Hugh Armenis…
In short: The state government will inject $1.5 million into the Dolphin Discovery Centre at Bunbury. The centre went into voluntary administration in February following several resignations. What’s next? WA’s regional development minister says the centre’s future is now more certain. A major WA tourist attraction that allows visitors to interact with wild dolphins has…
EY-Parthenon teams were appointed as insolvency administrators in March 2021. From the start, a unique aspect to this engagement was the media attention. Given the size and impact of this bankruptcy, this was a hurdle both Abengoa and EY-Parthenon had to overcome and engage with regularly throughout the process. Loan requests Initially, the EY-Parthenon teams…
Australian bookseller Booktopia has entered voluntary administration, following failed recent attempts to secure emergency funding. The announcement comes after a prolonged period of difficulties for the online retailer, which suspended trading shares on the ASX in June. The company has also endured three years of unprofitability, has been forced to make 90 staff redundancies in…
The Fanatec saga of 2024 has taken yet another twist, and a turn for the worse, as the brand’s parent company has filed an application to begin insolvency proceedings. It’s been a pretty crazy few months for Fanatec and its owner Endor. While it’s likely the public troubles began with a chaotic Black Friday, things…
Online book retailer Booktopia has been placed into voluntary administration, with McGrathNicol appointed to run the business. The administrators are undertaking an urgent assessment of Booktopia’s business, and are exploring options for a potential sale or recapitalisation. Shares in the struggling retailer were placed into a trading halt on June 13, at just 4.5 cents…
Image source: Linkedin Sydney-based print broker Mesh Direct has gone into voluntary administration with several printers caught up in the collapse of the company. Mesh Direct owes a number of wide format printers hundreds of thousands of dollars as well as staff entitlements of more than $250,000 – with total debt calculated to be $1,924,086.53.…
Designer label Dion Lee has appointed voluntary administrators in the latest high-profile business to come under pressure amid difficult economic conditions. The fashion house, which has six stores in Australia and one in the US, is now under the control of insolvency firm dVT Group administrator Antony Resnick, who will continue running the business as…
Sunshine Private Hospital in St Albans is cancelling surgeries and relocating patients as it is placed into voluntary administration. First on ABC Radio Melbourne Drive, administrators say there was no funding available to continue operating the hospital, which only opened last year. Dr Gareth Weston, a Monash IVF Fertility Specialist who works at Sunshine Private, told…
Above: Starleaton CEO Ben Eaton After yesterday’s open letter to the industry, Starleaton has provided further background on its business’ past, present, and future on the company’s website. “After navigating a challenging 2023, Starleaton, a leading wide-format provider, has successfully avoided liquidation, marking a pivotal moment with the implementation of a DOCA (deed of company…