Crafts Retailer Joann Goes Bankrupt as Consumers Retreat

Fabric and crafts retailer Joann Inc. filed for bankruptcy, unable to sustain its debt load after a sales boom during pandemic lockdowns faded. The Hudson, Ohio-based chain will be delisted after the bankruptcy proceedings and be privately owned by “certain of its lenders and industry parties,” according to a company statementBloomberg Terminal released as it…

What the costs decision in Bruce Lehrmann’s failed defamation case means for his appeal prospects and Network Ten

A Federal Court judge has ordered Bruce Lehrmann to pay costs of a higher order than typically seen in defamation cases, but also declared there were “no real winners” in the multi-million-dollar legal battle.  Justice Michael Lee found last month that, on the balance of probabilities, Mr Lehrmann raped Brittany Higgins in Parliament House in…

The biggest restaurant bankruptcies so far this year

The first half of 2024 was incredibly challenging for the restaurant industry, which continues to face rising labor and operating costs and declines in traffic. Several casual chains, including TGI Fridays, Bloomin’ Brands, Hooters and Denny’s closed underperforming locations. Red Lobster closed roughly 100 locations and then declared bankruptcy. The bankruptcy of the full-service seafood…

Former England captain and World Cup winner declared bankrupt, he’s not the only one in financial trouble – Page 3 of 3

Lawrence Dallaglio Dallaglio has followed in the footsteps of Wilkinson and Dawson, becoming a well-known rugby pundit. He provided coverage for the Rugby World Cup on ITV in 2011. Additionally, he is renowned for his philanthropic efforts, having founded the Lawrence Dallaglio Foundation. This organisation aims to empower young people through sport and supports teenage…

Company failures on track to reach 12-year high: ASIC

Companies are collapsing at levels not since 2012, ASIC says, with external administrations on track to exceed 10,000 by the end of the financial year. ASIC recorded 7,742 company failures in the past nine months, over a one-third increase on the same period last year, according to insolvency data published yesterday. “With only one quarter…

NCLT approves Sarda Energy’s resolution plan for SKS Power

The National Company Law Tribunal (NCLT) has approved Sarda Energy and Mining’s (SEML) resolution plan for SKS Power Generation (Chhattisgarh), as part of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC), 2016. A formal order detailing the approval is still pending. The bench, comprising justices Anu Jagmohan Singh and Kishore Vemulapalli,…