The post-pandemic market has been challenging for small and medium-sized enterprises (SMEs) across Australia. While we like to think we are over the pandemic, the truth remains that the lingering effect of COVID-19 is continuing to unsettle the economic landscape, with an alarming rise in reported insolvencies. While the most common reason for business failure…
Premier Kings is the third Burger King franchisee to declare bankruptcy this year. | Photo: Shutterstock. Premier Kings, a 172-unit Burger King franchisee whose owner died in 2022, declared bankruptcy protection, saying that operating losses even after the company closed restaurants forced the issue. It’s the third time this year that a major Burger King…
KATIE Price blew £10,000 in a month on takeaways and clothes — after being declared bankrupt. The ex-glamour model splurged about £7,000 during a single visit to Selfridges, pals say. 3 Katie Price has been spending thousands despite being declared bankruptCredit: PA 3 Pals say Katie ‘doesn’t care about blowing cash when she should be…
The Body Shop operates about 100 stores in Australia and is said to be the most profitable international arm of the stricken business. However since the UK parent entered bankruptcy last month, the Australian subsidiary – and others around the world – have become creditors and their access to funds has been cut off. The…
Premier Kings, a 172-unit Burger King franchisee, declared bankruptcy in late October after the death of its owner created operational instability. It’s the third Burger King franchisee to enter court proceedings this year. The company was founded in 2009 by Manraj Sidhu. He started with six stores in the Birmingham, Alabama, market and expanded in…
Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labor costs and a disastrous unlimited shrimp promotion. The Orlando, Florida-based company filed for Chapter 11 protection on Sunday, listing assets and liabilities of $1 billion to $10 billion each in its bankruptcy petition. The filing allows the company to keep operating…
In short: Cash mover Armaguard is at risk of insolvency due to the declining use of cash. The nation’s leading financial institutions have been holding urgent talks about how to ensure communities aren’t left stranded without access to bank notes. What’s next? A draft plan for how to prop up Armaguard and find alternative means of moving money…
Miss Universe’s Thai owner is seeking a debt rescue. Media distribution company JKN Global Group has filed for bankruptcy, CEO Jakkaphong Jakrajutatip announced in a letter to shareholders yesterday (Nov. 9). The petition for business rehabilitation was filed the day prior, it said. M&M maker Mars is acquiring Pop-Tarts maker Kellanova in one of the…
Discount retailer 99 Cents Only has declared bankruptcy as it prepares to shutter its stores. The company announced its Chapter 11 filing Monday (April 8), days after it said it was closing all of its 371 locations in the southwestern part of the country. “This was an extremely difficult decision and is not the outcome we expected or hoped…
Dunfast Pty Ltd has been wound up. Photo: Frogman1484. Transport business Dunfast Pty Ltd, which trades under the name Griffith Fast Freight, was wound up in insolvency by the Federal Court on Friday (8 March), ending a decade in operation. According to court documents obtained by Region, the wind up motion was lauched by the…