Seven GNC LiveWell stores have closed down less than two months after the Australian operations of the global brand were placed in voluntary administration. GNC LiveWell stores at Melbourne Central, Westfield Geelong, Chadstone Shopping Centre, Knox Shopping Centre and Watergardens Town Centre in Victoria have ceased trading, according to a statement on the vitamin retailers…
The Insolvency Law Reform Bill, which enhances protections for creditors and improves the efficiency of companies being wound up, has passed the House of Representatives today, Minister for Small Business and Assistant Treasurer the Hon Kelly ODwyer said. This legislation supports the Governments commitment to modernise Australia’s insolvency and corporate reorganisation framework, Minister ODwyer said.…
ROSEMONT, Ill.–(BUSINESS WIRE)–Comdisco Holding Company, Inc. (OTCQB: CDCO) and (OTCQB: CDCOR) (Comdisco) today reported financial results for its fiscal first quarter ended December 31, 2015. Comdisco emerged from Chapter 11 bankruptcy proceedings on August 12, 2002. Under Comdiscos First Amended Joint Plan of Reorganization (the Plan), Comdisco was charged with, and has been, liquidating its…
Five Laura Ashley stores in Victoria and New South Wales will close and 25 employees will lose their jobs, as the voluntary administration of the Australian retail chain continues. FTI Consulting, which was appointed to manage the voluntary administration of the company on January 7, said yesterday the closures are part of an ongoing restructure…
Dozens of Australian investors have lost a total of $7 million in a collapsed investment scheme run by an unlicensed financial trader. Gunter Lang, a former industrial chemist, who headed the scheme is being investigated by the corporate watchdog ASIC. Mr Lang traded using the online platform IG Markets, in an account under…
Several large vocational education and training providers have collapsed into voluntary administration after their parent company appointed external administrators earlier this week. Global Intellectual Holdings Pty Ltd entered voluntary administration on Tuesday, with Richard Albarran, Blair Pleash and Shahin Hussain from Hall and Chadwick appointed as external managers. Global Intellectual Holdings is the company behind…
Thousands of students of at least four colleges have been left in limbo with huge debts following the collapse of one of the country’s largest vocational education companies. At least 500 administration and teaching staff have also been affected by the collapse. Aspire College of Education, The Design Works College of Design, RTO Services Group and…
Masters is believed to have attracted the interest of global private equity giant Blackstone. David Mariuz Woolworths still has at least 15 business days to come to agreement with US retailer Lowe’s about the value of their home improvement business and hasn’t completely given up on finding buyers for Masters and Home Timber and Hardware. However, the…
TOKYO — As the stock sell-off continues here, a number of companies are trading at price-to-book ratios of less than 1, reflecting investor concerns over corporate earnings. As of Tuesday, 53% of companies on the Tokyo Stock Exchange’s first section traded below book value, the most in two and a half years. Sell orders were…
A business specialising in toasted sandwiches has collapsed into voluntary administration. Jaffle Jaffle Group Pty Ltd appointed external managers in late January, with Gideon Rathner from Lowe Lippmann acting as administrator. The first creditors meeting was held on 5 February. Jaffle Jaffle was founded in late 2013, selling a range of gourmet toasted sandwiches. Its…