‘Hellbent’ ATO driving record insolvencies – what to do – Gold Coast Bulletin
‘Hellbent’ ATO driving record insolvencies – what to do Gold Coast Bulletin Read the original article here
Jobs on the line as historic Billson’s Brewery announces it’s entering voluntary administration
In short: Owners at Billson’s Brewery have announced the business has been put into voluntary administration. A statement cited “mistakes” relating to systems and processes “keeping up” with the business in the decision. What’s next? The brewery will remain open and the supply of Billson’s drinks to bottle shops and pubs across the country will…
Business insolvencies hit record highs with worse to come, warns CreditorWatch
In short: The number of businesses in external administration has hit a record high, according to CreditorWatch. The highest-risk areas are dominated by south-west and western Sydney and south-east Queensland, while regional Victoria, north Queensland and inner Adelaide are lowest risk. What’s next? The Australian Taxation Office is collecting tens of billions of dollars in…
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Rex Airlines enters voluntary administration but regional services continue to operate
The Transport Workers Union says administrators of Rex Airlines expect up to 610 jobs to be axed after the carrier entered into voluntary administration. Its fleet of Boeing 737 jets, which provide services between the major capital city airports, have all been grounded. Rex’s regional services will continue to operate. A statement posted to the…
Australian business insolvencies hit record, jobs market stays strong
A slowing economy and rising costs pushed a record number of businesses into insolvency last month, but the overall number of jobs fell by just 6600, supporting data suggesting smaller firms were hit hardest. The unemployment rate edged from 3.7 per cent to 3.8 per cent as people seeking work increased to 20,600, largely driven…
Beauty bosses ‘deeply saddened’ by salon liquidation – Gold Coast Bulletin
Beauty bosses ‘deeply saddened’ by salon liquidation Gold Coast Bulletin Read the original article here
Rex airlines enters voluntary administration with all flights between capital cities grounded | Airline industry
All Rex flights between capital cities have been grounded and the airline has entered voluntary administration just hours after the Albanese government suggested it would intervene to ensure the nation’s third-largest carrier didn’t collapse. Late on Tuesday, EY – formerly known as Ernst & Young – announced it had been appointed as administrators of the…
Record high insolvencies signal two-speed economy
Australian insolvencies hit a record high in March, according to the latest data released by the corporate regulator. In total, 1131 businesses went bust in the month, which was the largest number since ASIC started collecting these statistics in 1999. Intensifying labour and input costs are a killer for companies with little pricing power. Seasonally…
Start-up fund GigSuper goes into liquidation
In a published notice from the Australian Securities and Investments Commission (ASIC) last week, it was revealed that start-up superannuation fund GigSuper has entered voluntary liquidation. At a general meeting on 24 June, it was resolved that the company would be wound up and that principal at DW Advisory, Paul Gerard Weston, would be appointed…