EVERYONE has heard of people being declared bankrupt, but it’s not as simple as just having no money. In 2024, it was revealed Katie Price had gone bankrupt for the SECOND time after blowing her £45M fortune, 1 Katie Price has been declared bankrupt for a second timeCredit: Rex What is bankruptcy? Bankruptcy is a…
99 Cents Only Stores Goes Bankrupt as Inflation Keeps Biting Bloomberg Read the original article here
Insolvencies across the board are on the rise, including in fashion. Christopher Kelly speaks with insolvency firm Jirsch Sutherland to learn how business leaders can navigate the fall. Retail trade is the fourth highest sector when it comes to insolvencies. This is according to the Australian Securities and Investments Commission (ASIC) in a report that…
Amazon aggregator Thrasio files for bankruptcy Reuters Read the original article here
A15LE E battery-electric bus (Photo: Van Hool) Belgian bus OEM Van Hool has been declared bankrupt by the Commercial Court of Mechelen, a court in Belgium which deals with commercial litigation. According to media reports the company had accumulated a debt of €400 million. This was further compounded by a family inheritance dispute over shares…
The number of insolvencies has continued to rise and remains well above pre-COVID-19 levels, the latest ASIC data has revealed. ASIC’s latest insolvency figures indicate there were a total of 9,996 companies that had entered external administration or had a controller appointed at 2 June this year. The insolvency figures for the 2023–24 financial year…
SIR Bradley Wiggins is bankrupt, homeless and has “lost absolutely everything”, his lawyer says. The Olympic cyclist became the first Briton to win the Tour de France but has suffered ongoing financial difficulties with his business ventures. 4 Sir Bradley Wiggins won eight Olympic medalsCredit: Getty 4 He was declared bankrupt earlier this month after…
Amsterdam-based The Next Closet, a peer-to-peer marketplace for secondhand designer clothes and accessories has been declared bankrupt by the Amsterdam court. It is still being determined why bankruptcy was filed by the company. “The resale market in the fashion industry is currently very competitive, so profit margins have become very thin. That is the main…
More Australian companies are failing and the construction industry is faring the worst of all. During the nine-month period from 1 July 2023 to 31 March 2024, more than 7,700 companies entered external administration, a 36.2 per cent increase on the previous corresponding nine-month period ending 31 March 2023. According to the Australian Securities and…
New York CNN — It’s been a rough year for some household-name US retailers and businesses. As the economy emerged out of the Covid-19 pandemic, companies faced a laundry list of problems arising from high costs, supply shortages and growing competition. As a result, several big names filed for bankruptcy in 2023. A bankruptcy doesn’t…