The news: Toys R Us has entered voluntary administration, appointing BDO Business Restructuring’s Luke Andrews and Duncan Clubb about five years after the brand was relaunched as an online store. The context: Toys R Us had been pursuing a recapitalisation plan with the support of primary stakeholders, but the company told the exchange today that…
Toys’R’Us ANZ Limited (ASX: TOY) has appointed Luke Andrews and Duncan Clubb of BDO Business Restructuring Pty Ltd as Voluntary Administrators, effective immediately. This decision comes after the company concluded that it could no longer pursue a solvent recapitalization plan, despite previous efforts and stakeholder support. The Board determined that the company is either insolvent…
Jeanswest’s 53 years of operation in Australia are set to end. Photo: Facebook. Jeanswest is the latest clothing outlet to end its operations in Australia, after it was announced its parent company, Harbour Guidance Pty Ltd, had entered voluntary administration. Across the Region network, stores will close in Tuggeranong, Bega, Wollongong, Albury and Griffith. Across…
Toys R Us collapses for second time The Australian Read the original article here
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The publicly listed Toys R Us, which was saved five years ago from going bust, has again gone into administration. In a statement made to the ASX, Toys R Us ANZ said the business had been put into voluntary administration, with BDO’s Luke Andrews and Duncan Clubb being put in charge of helping to restructure…
I’m afraid that when I read that the posh glamping provider for wealthy Glastonbury fans was going into liquidation, I smirked. The company offered yurts that only look luxurious if you compare them with tents – with a beds, a sofa, a loo and a shower, as well as meals. Pretty basic, biatch. The only…
The Reserve Bank of India (RBI) has cancelled the license of Lucknow-based HCBL Co-Operative Bank over multiple irregularities and authorities are to begin the liquidation process. The bank had violated several provisions of the law and had been non-compliant leading to the RBI’s conclusion that depositors were at risk should the bank continue to operate.…
Victoria-based MVP Print has gone into liquidation, putting its offset printing, finishing, and pallet racking equipment for auction. Gollant Auctioneers and Valuers have put the company’s items online for unreserved auction, including: A Heidelberg SM52-4P four-colour press A Heidelberg SM52-2 two-colour press Polar 78XT and 55EM Guillotines A Wohlenberg 92 Guillotine A Horizon SPF-20A Stitching…
In a major relief for Reliance Infrastructure, the National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed insolvency proceedings initiated against the company. In a regulatory filing, Reliance Infrastructure said that the appellate tribunal has stayed the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which had admitted an insolvency…