StrongRoom AI has fallen into administration after the board concluded there were doubts about its solvency, despite the pharmaceutical software start-up being valued at almost $70 million just two weeks ago. Filings with the corporate regulator show HLB Mann Judd, a consulting and accounting practice with a specialised insolvency division, was appointed late on Friday.…
It’s no understatement to say the unfolding saga surrounding collapsed medtech StrongRoom AI has sent shockwaves through the Australian startup and venture capital ecosystems. Last week’s extraordinary decision by Sydney venture firm EVP to call in the police on its newest portfolio company — a decision no investor would take lightly — kicked off a…
Star Entertainment is once again on the brink of collapse, after a rescue deal fell through. The casino group was working to secure a refinancing arrangement with Salter Brothers Capital, which has now been withdrawn. The failure to secure the $750 million deal has forced the company to try and shore up an alternative arrangement…
Interchange Health Cooperative Ltd (IHCO), a Canberra-based bulk-billing allied health and general medical practice was today placed into voluntary administration. The organisation, which provides 100 per cent bulk-billing services to some of Canberra’s most vulnerable community members, appointed RSM Australia Partner Jonathon Colbran and Director Adam Cormack as Joint and Several Voluntary Administrators of the…
Hikanui Capital was established in 2019 and specialises in property development, relocatable homes, and property rental. The company was placed in liquidation by order of the High Court over “unpaid levies” to one of the creditors, a body corporate, and it has stopped trading, according to the first liquidator’s report released late last week. The…
The Body Shop has closed for good, leaving 70 without jobs Stuff Read the original article here
Financial services firm that collapsed owing creditors £37m was led by Cardiff Rugby co-owner Neal Griffith Wales Online Read the original article here
Jaiprakash Associates Insolvency: Anil Agarwal, Gautam Adani in race for bankrupt JAL’s acquisition – LIST of 26 bidders ET Now Read the original article here
Recently collapsed fast fashion retailer Ally Fashion owes more than $56 million in liabilities to over 260 creditors. This is according to ASIC filings obtained by Ragtrader, which confirms that the highest-value creditor is DDT Management Pty Ltd – a related party to the Ally Fashion business – which is owed $46.1 million. Other high-value…
The studio was one of the oldest architectural practices in the world, having been founded by Herbert Tooley in Buckhurst Hill, Essex, in 1892. It became Tooley & Foster Partnership in 1910, rebranding as Tooley Foster in 2021, when it boasted a workforce of 30 people. But the practice’s main trading arm, Tooley Foster 1982…