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…
This year is shaping as a tipping point that will see company collapses increase, insolvency and deal experts say. Photo: Philip Gostelow Much of Australia’s mining services sector and other businesses that rode the resources boom might be getting by on “life support”, but this year is shaping as a tipping point that will see…
Stocks: SNG Singulus Technologies has highlighted the essential support it needs from shareholders and bondholders to avert liquidity issues that would force the company into insolvency. Specialist PV manufacturing equipment supplier Singulus Technologies has highlighted the essential support it needs from shareholders and bondholders to avert liquidity issues that would force the company into insolvency.…
The company with the licence to sell Jeep clothing and footwear in Australia has collapsed into voluntary administration. The collapse comes around 10 years after Jeep opened its first concept store in Melbourne through local licensee Revolution Brands. Revolution Brands appointed voluntary administrators last week, with Barry Wright from Cor Cordis Chartered Accountants acting as…