Loss of main contract leads to liquidation decision

Liquidation

A long-standing Dunedin audio service firm has been put into liquidation, by shareholder resolution, after losing its main contract. In their initial report to creditors and shareholders, Trevor and Emma Laing, of Laing Insolvency Specialists, said Vision AV was incorporated in 1994 and provided network television installation, servicing and also audiovisual related services. For many…

Lorraine Lea Linen enters voluntary administration

Liquidation

An iconic Australian linen retailer has collapsed after almost 40 years. Lorraine Lea Linen entered voluntary administration on Monday, appointing Andrew Yeo and Tim Bradd of insolvency firm Pitcher Partners Melbourne as administrators. “Lorraine Lea Linen is an iconic National brand that many Australians have in their homes,” Yeo told 7NEWS.com.au. Know the news with…

Yongnam Holdings Moves into Liquidation Phase

Liquidation

Yongnam Holdings Limited (SG:AXB) has released an update. Yongnam Holdings Limited and its subsidiary, Yongnam Engineering & Construction (Private) Limited, are in liquidation following a High Court order. The liquidation proceedings follow the discharge of the judicial managers and the appointment of new liquidators from KPMG Services Pte. Ltd. The company is also updating stakeholders…

Mighty Craft Appoint Voluntary Administrators

Liquidation

Mighty Craft has entered voluntary administration so that a decision can be made about whether or not the business should continue as a going concern.  In an announcement to the ASX today, the business said they had appointed Liam Healey and Quentin Olde from specialist restructuring firm Ankura as joint administrators. The announcement follows a…