Economic downturns create opportunities for the restructuring or acquisition of challenged assets, and we anticipate increased activity in this space in 2023. The indicators pointing in that direction are: inflation remains elevated, with the Reserve Bank of Australia successively hiking interest rates in response; ASIC’s insolvency statistics for Q3 and Q4 2022 showing an escalating…
Citing the story of Sudbury’s Laurentian University, federal gov’t made the announcement in this week’s fall economic statement The federal government has signalled it will move to prevent post-secondary institutions from declaring insolvency. This in the wake of Laurentian University’s 2021-2022 insolvency, which included mass layoffs and program cancellations, the severing of ties with federated…
Welcome to The Markup, where we use investigative reporting, data analysis, and software engineering to challenge technology to serve the public good. Sign up for Klaxon, a newsletter that delivers our stories and tools directly to your inbox. In 2021, a company specializing in collecting and selling location data called Near bragged that it was “The…
“Our aim is to move quickly to restructure Godfreys to preserve as much of the business and as many jobs as possible. We intend to trade the restructured store network and sell the business and assets as a going concern, with strong interest expected from prospective buyers.” The first meeting of creditors will be held…
Renewcell was going to change fashion. Why did it suddenly go bankrupt? Fast Company Read the original article here
Administrators of troubled dental supplier SmileStyler have found the company backed by Melbourne-based businessman Paul Docherty may have been trading while insolvent for at least the last 18 months, subject to further investigations. The findings are contained in a preliminary report to creditors filed with the Australian Securities and Investments Commission (ASIC) on January 12.…
UK Government records indicate that UK synth manufacturer Modal Electronics has gone into administration. Records on Companies House show that the last time Modal filed accounts was in 2021, and that it was declared insolvent and went into administration on 8 September 2023. From its budget Craft and Skulpt synths through to the high end…
A former Manchester City player is now living off benefits with just £2 left in his bank account, according to reports. Pep Guardiola’s side are currently at the height of their powers. Following a historic treble winning season in 2022/23, City are now in prime position to secure another Premier League trophy this season. As…
About a quarter of projects that were at various stages of construction at the time 50-year-old building company Project Coordination (Australia) Pty Ltd went into voluntary administration have taken steps to restart operations. The status of the company’s current building projects was among a range of updates Company Administrator RSM Australia Partner Jonathon Colbran shared…
