Category Archives: Liquidation

Ultrapetrol (Bahamas) Limited Initiates Prepackaged Chapter 11 Proceedings Pursuant to Restructuring Support … – Hellenic Shipping News Worldwide

Ultrapetrol (Bahamas) Limited (the Company), a Bahamas corporation, announced today that it and certain of its subsidiaries have commenced voluntary cases under chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York yesterday (In re Ultrapetrol (Bahamas) Limited, Chapter 11 Case No. 17-22168) in order…

Herringbone, Rhodes & Beckett fashion labels enter voluntary administration – NEWS.com.au

YET ANOTHER fashion retailer is in financial strife, with the maker of Herringbone and Rhodes & Beckett announcing it has gone into voluntary administration. The collapse of the labels has thrown the jobs of 140 employees across 29 retail stores throughout Australia under a cloud. It comes less than a week after Marcs and David…

PowderPak Parks in liquidation three months after opening in Queenstown – The Press

Dasha Kuprienko / Fairfax NZ The biggest indoor dry slope terrain park and the only one in New Zealand is in liquidation. An indoor ski field terrain park in Queenstown is in liquidation, three months after opening. PowderPak Parks is said to be the world’s largest indoor dry slope terrain park. The company opened its doors in…

Herringbone and Rhodes & Beckett have gone into administration – Business Insider Australia

Fashion clothing brands Herringbone and Rhodes & Beckett have gone into voluntary administration, joining a growing list of retailers seeing customer support fade. They have 29 stores with 140 employees. Insolvency group Cor Cordis has been appointed administrator. They follow fashion labels Marcs and David Lawrence which last week went into voluntary administration, citing deteriorating…

Slow notification impacts bankruptcy code – Business Standard

The Insolvency and Bankruptcy Code in India is unable to realise its potential because its provisions are being notified in bits and pieces and not at one go, say professionals. By not notifying the sections that will make the part of the code on bankruptcies of individuals effective, the interests of the guarantors…

Mobile retailer Allphones collapses into voluntary administration, 69 jobs to go – SmartCompany.com.au

Sixty-nine employees have been made redundant after independent mobile phone retailer Allphones collapsed into voluntary administration on Monday. Phil Carter, Daniel Walley and Mark Robinson of PPB Advisory have been appointed as voluntary administrators of the nine entities that comprise the Allphones Group. The business has 84 stores and approximately 440 staff across Australia. Twenty-five…

Business collapse shows importance of trade credit cover – Insurance Business

The collapse of high profile fashion labels Marcs and David Lawrence can be used by brokers as a way to drive client interest in trade credit cover. The two brands, with debts close to $30 million, announced that they had moved into voluntary administration yesterday with 1,200 workers in Australia and New Zealand facing an…

Job losses, stores closed as Allphones goes into liquidation – iTWire

The Allphones chain of 84 retail stores around Australia have been placed in administration due to insufficient funding to keep stores trading during a sales process. Eighteen of Allphones company-owned branded stores were closed on Monday by the liquidators, PBS Advisory, with 69 employees losing their jobs. The liquidators are reviewing options for the remainder…

Border builder in administration will be wound up after creditors reject a deed of company arrangement for the firm … – The Border Mail

DEBT packed Border firm Magi-Build will be wound-up with creditors rejecting a deal which promised a return of 20 cents in the dollar. Administrator Chris Chamberlain advised creditors to accept a deed of company arrangement which would have involved Magi-Build director Paul Maginnity contributing $300,000 via asset sales. But as part of a 90-minute meeting at Alburys Commercial…

Independent Aussie phone retailer Allphones goes into administration – NEWS.com.au

Australias largest independent phone retailer, Allphones, has reportedly gone into administration. Picture: News Limited AUSTRALIAS largest independent phone retailer, Allphones, has gone into administration, affecting hundreds of staff from more than 80 stores across the country. The ABC reported the write-off came a year after Optus, which also owns the Virgin Mobile brand in Australia,…