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Eastbourne and Hailsham gift shops close as company goes into ‘voluntary liquidation’

Wednesday, 18 March 2026 16:24 The independent gift retailer Maybugs Limited officially ceased trading on 2 March 2026, leading to the closure of its stores in Eastbourne and Hailsham. The company is currently being placed into creditors’ voluntary liquidation.  Key Closure Details Company Name: Maybugs Limited. Closed Locations:   Official Cease Date: 2 March 2026. Liquidators: Steven Edwards and…

Courts will not tolerate abuse of the business rescue process as a defence against winding up

Faced with a debtor who (i) had repeatedly acknowledged indebtedness yet failed to pay; (ii) argued that the business rescue application lodged on the eve before the liquidation hearing (which application was only issued minutes before the hearing) suspended the progress of the liquidation application; and (iii) raised jurisdictional objections, the Western Cape High Court…