Photo: RNZ Business insolvencies are running at more than double the rate of last year, and one economist says the failure rate exceeds that of the global financial crisis. There were 72 liquidations in October administered by the Insolvency and Trustee Service, just down from 74 in September. Of those, 37 were in Auckland. In…
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Gower said in an email response to questions from the Herald that the liquidation of Baby City Retail Investments was due to a combination of a deep recession and falling birth rates in the aftermath of Covid. The company has more than 50 staff, although most work less than full time for the business, Gower…
An Australian consumer affairs body is investigating the boss of a collapsed caravan company which owes millions of dollars to creditors but only has three vehicles to repay everyone. In August, news.com.au reported that Victorian-based Tango Caravans had plunged into liquidation, leaving 60 customers as much as $90,000 out of pocket each after being “sold…
Big Lots says it found a buyer that will keep some stores open The Washington Post Read the original article here
(Bloomberg) — Bankrupt retailer Big Lots Inc. won court approval of a rescue deal to save some of its stores from shutting-down despite challenges from vendors that claimed the deal unfairly saddles them with steep losses. Judge J. Kate Stickles said late Tuesday she’d approve a sale of the retailer to Gordon Brothers Retail Partners,…
Corporate insolvencies in the UK increased by 1.5% in September 2024 from the previous month, according to the latest data from the Insolvency Service. The total number of corporate insolvencies stood at 1,973 compared to August’s total of 1,943, and decreased by 7.4% compared to September 2023’s figure of 2,130. Corporate insolvencies also increased by 14.3%…