Lamudi’s parent DCG enters ‘External Administration’ following financial distress

Digital Classifieds Group (DCG), the Australian company that bought proptech firm Lamudi Indonesia in 2023, has entered into ‘External Administration’ or ‘Controllership’, according to a filing to the Australian Securities & Investments Commission, seen by DealStreetAsia. The firm has appointed Daniel Peter Juratowitch, CEO of the advisory and restructuring firm Cor Cordis, as its ‘administrator’…

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Police launch investigation into Pastoralists and Graziers Association as it prepares to exit voluntary administration

A West Australian agricultural lobby group says it has been “let down by a very trusted employee”, as WA police begin investigations into financial misconduct at the Pastoralists and Graziers Association (PGA). “It’s been a pretty interesting experience,” PGA president Tony Seabrook said.  “We found ourselves in a very embarrassing situation of having far too…

Major Aussie retailer Ally Fashion sees 51 stores closed

A major Australian fashion chain has had 51 stores shut down immediately after it was ordered into liquidation by the Federal Court. Ally Fashion is an Australian-owned fast fashion retailer that was founded in 2001, which described itself as “dedicated to creating contemporary ready-to-wear pieces for every woman”. As a result of the store closures,…