Photograph: Shutterstock The coronavirus pandemic and ensuing shutdown have had a massive impact on restaurants, with industry sales at one point cut in half compared tolast year. Some chains that had been struggling before the pandemic were unable to weather the storm. Seven chains have declared bankruptcy, though thesemay well be the tip of the…
Rugby Australia is expected to start laying off staff as early as this week after finally completing its 2019 financial report. The heartbreaking decision to cut jobs looms as the only way the cash-strapped code can survive in the future even after getting the thumbs up to continue operating from its accountants KPMG. Despite being…
He orders a Voyager Estate chardonnay and confesses to having once owned the Smithbrook winery in Pemberton, Western Australia, in partnership with his best friend, the late David Clarke, one of the founders of Macquarie Group. They later sold Smithbrook to Brian Croser. Ferrier, 79, is a former chairman of Australian Vintage, which owns McGuigan…
News story New measures will help to relieve the burden on businesses during the coronavirus (COVID-19) outbreak. The Corporate Insolvency and Governance Bill received royal assent on 25 June and is now an Act. The measures in this Act will relieve the burden on businesses during the coronavirus (COVID-19) outbreak and allow them to focus…
Although Jersey’s borders will reopen from 3 July, the future of Condor’s St Malo sailing looks uncertain. The company which handles freight and foot passenger baggage at the port has been placed into liquidation. St Malo Manutention (SMM), will be wound up by a French court after being declared insolvent. Over the past few years…
The Corporate Insolvency and Governance Bill received royal assent on 25 June and is now an Act. The measures in this Act will relieve the burden on businesses during the coronavirus (COVID-19) outbreak and allow them to focus all their efforts on continuing to operate. What happens next Some of the measures in the Act…
BUSINESS owners will need enough “mojo” to fight through the next 100 days and survive when the Federal Government’s JobKeeper support ends, a leading insolvency firm has declared. Jirsch Sutherland Partner Andrew Spring said companies relying on JobKeeper or temporarily trading while insolvent will have until mid-September to form a business plan or make the…
One of the largest regional theatre companies in NSW is facing insolvency, warning a Federal Government bailout might not be enough to save it. Key points: Australia’s arts sector will get access to $250 million worth of grants and loans under a COVID-19 recovery package Wollongong’s Merrigong Theatre Company says the money might have come…
Facebook Twitter Flipboard Email UNIDENTIFIED PERSON #1, BYLINE: Heads-up – there is one swear word in this show. My parents used to say it around me, but if you’re a parent and you don’t like swears, now you know. UNIDENTIFIED PERSON #2, BYLINE: This is PLANET MONEY from NPR. KENNY MALONE, HOST: Alexxus Harris has…
Wirecard filed for insolvency after the once high-flying payments group revealed a multiyear fraud that led to the arrest of its former chief executive. In a remarkable collapse of a company once regarded as a European tech champion, Wirecard said in a statement on Thursday morning that it faced impending insolvency and over-indebtedness. The first…