Beleaguered book seller Booktopia has been saved from collapse via a buyout from digiDirect founder Shant Kradjian. The book chain went into voluntary administration in July. A representative for Mr Kradjian said Kogan.com, Woolworths, Dymocks, and QBD Books were among the other entities bidding on the administrator’s tender. Booktopia was in financial strife as it…
More than 70 jobs will be cut at troubled regional airline Rex as administrators continue to evaluate the business and search for an appropriate buyer. Rex collapsed into voluntary administration in late July, after days of speculation about the airline’s future. Since administrators from consulting firm EY were appointed, a total of 594 jobs have…
The casino said that Mars does not owe it an insurmountable debt, in spite of rumors published in March. In March, a rumor made the rounds that singer Bruno Mars owed over $50 million in gambling debt to Las Vegas casinos, but MGM Resorts International has now denied that story. NewsNation was one of the…
The latest insolvency data published by the corporate regulator reveals that the number of companies failing is increasing, and it looks like it won’t stop any time soon. Last week, the Australian Securities and Investments Commission (ASIC) released its latest insolvency data, covering the period from 1 July 2023 to 31 March 2024. The data…
Lusix, the synthetic diamond company founded by Benny Landa, is on the brink of filing for insolvency. The company has informed its creditors of its intention to do so, though the timing remains uncertain. Sources have told Calcalist that Lusix informed its shareholders last week that it urgently needs to raise $15 million to continue…
Vacuum giant Godfreys collapses after 90 years Hawkesbury Gazette Read the original article here
A Gilbert-based electric vehicle charging company that landed millions of dollars in a venture capital deal last year is liquidating its assets and closing its business. Zevx Inc., via special purpose entity Zevx Liquidation LLC, auctioned off inventory — including battery packs, modules and equipment — from its warehouse at 565 E. Germann Road in…
A buyer has been secured for Booktopia after the troubled online retailer collapsed into administration last month following a major slump in share value. The ailing business and related assets was bought by the owner of digiDirect last week, an Australian-owned business specialising in consumer electronics like cameras, computers and gaming tech. Administrators shared the…
The former interpreter of Japanese baseball star Shohei Ohtani pleaded guilty to tax and bank fraud charges at a courthouse south of Los Angeles on Tuesday. Ippei Mizuhara, 39, is accused of stealing nearly $17m (£13.3m) from Mr Ohtani – who plays for the Los Angeles Dodgers – during the years he was employed by…
Liquidations in the British Virgin Islands can be either an insolvent liquidation governed by the Insolvency Act 2003 (as amended), or a solvent liquidation governed by the BVI Business Companies Act (as amended). This article provides a brief overview of insolvent liquidations. Insolvent liquidation The purpose of an insolvent liquidation is to bring a company’s…