There is no denying 2024 was a tough year for business. According to the figures from Alares Credit Risk Insights, insolvencies numbers reached an all-time high last year. Inadequate cash flow, poor strategic management and trading losses are some of the top reasons companies go under. ASIC’s latest insolvency data for the fourth quarter from…
The Q3 2024 national accounts, released this month, revealed that Australia’s economy grew by only 0.8% over the year, the weakest annual growth since the early 1990s recession. The situation was worse adjusting for population growth, with real per capita GDP declining for six consecutive quarters. Advertisement The market (private) sector has borne the brunt…
Economist predicts Michael Saylor’s MicroStrategy will eventually ‘go bankrupt’ TheStreet Read the original article here
Contractor RobertsCo appointed voluntary administrators to its Victorian business late on Friday – a move The Australian Financial Review foreshadowed – after failing to stem losses on two projects it took over after acquiring the operations of collapsed builder Probuild in 2022. RobertsCo’s other operations were not affected by the appointment of McGrathNicol’s Jason Ireland…
The application sought authorisation for fifteen vehicles to support the company’s tool and plant hire operations. However, investigations revealed significant overlaps between PHS Group SW Ltd and the recently insolvent Purple Hire Solutions Ltd, including shared business addresses, contact details, operating centres, and familial ties among directors. Notably, Purple Hire Solutions Ltd had substantial unpaid…
Reality television icons, Kerry Katona and Katie Price, are set to descend on East Lancashire later this year. The duo are bringing their tour, An Evening with Katie Price and Kerry Katona, to the Burnley Mechanics theatre on October 14. The event promises to be a “tell all” tour, where they share stories of friendship,…
Edward Koemans: “Business model was not future-proof” On 12 March 2025, the Rotterdam District Court declared Davis Europe bankrupt, appointing Mr A.C.L. Beneder as trustee. In a statement, CEO Edward Koemans explained that the company had experienced rapid growth prior to…
The collapse of Hudson’s Bay will hit small-town Canada hard The Logic Read the original article here
Hudson’s Bay Company is nearly a billion dollars in debt, according to court filings that paint a dire portrait of the struggling Canadian department store chain’s finances. The documents were submitted as part of its creditor protection filing last week. The company owes a total of $950 million to nearly 2,000 secured and unsecured creditors,…
Edward Koemans: “Business model was not future-proof” On 12 March 2025, the Rotterdam District Court declared Davis Europe bankrupt, appointing Mr A.C.L. Beneder as trustee. In a statement, CEO Edward Koemans explained that the company had experienced rapid growth prior to…