Australian bookseller Booktopia has entered voluntary administration, following failed recent attempts to secure emergency funding. The announcement comes after a prolonged period of difficulties for the online retailer, which suspended trading shares on the ASX in June. The company has also endured three years of unprofitability, has been forced to make 90 staff redundancies in…
Online book retailer Booktopia has been placed into voluntary administration, with McGrathNicol appointed to run the business. The administrators are undertaking an urgent assessment of Booktopia’s business, and are exploring options for a potential sale or recapitalisation. Shares in the struggling retailer were placed into a trading halt on June 13, at just 4.5 cents…
Image source: Linkedin Sydney-based print broker Mesh Direct has gone into voluntary administration with several printers caught up in the collapse of the company. Mesh Direct owes a number of wide format printers hundreds of thousands of dollars as well as staff entitlements of more than $250,000 – with total debt calculated to be $1,924,086.53.…
Designer label Dion Lee has appointed voluntary administrators in the latest high-profile business to come under pressure amid difficult economic conditions. The fashion house, which has six stores in Australia and one in the US, is now under the control of insolvency firm dVT Group administrator Antony Resnick, who will continue running the business as…
Sunshine Private Hospital in St Albans is cancelling surgeries and relocating patients as it is placed into voluntary administration. First on ABC Radio Melbourne Drive, administrators say there was no funding available to continue operating the hospital, which only opened last year. Dr Gareth Weston, a Monash IVF Fertility Specialist who works at Sunshine Private, told…
Above: Starleaton CEO Ben Eaton After yesterday’s open letter to the industry, Starleaton has provided further background on its business’ past, present, and future on the company’s website. “After navigating a challenging 2023, Starleaton, a leading wide-format provider, has successfully avoided liquidation, marking a pivotal moment with the implementation of a DOCA (deed of company…
Bonza has appointed a voluntary administrator to run the discount regional airline after the company behind its aircraft provider repossessed its planes in Australia leaving thousands of passengers stranded on Tuesday. Planes registered to Bonza remain grounded at the Sunshine Coast, Melbourne and the Gold Coast after a former investment partner of the discount airline’s…
Bonza’s aircraft have been seized by AIP Capital, an investment house owned by the parent of 777 Partners, ACAP, to recoup money owed to investors, sources close to the matter said. 777 Partners originally bought the aircraft and issued long-term leases to Bonza during COVID-19. AIP confirmed the aircraft had been transferred to a new…
Budget airline Bonza has entered voluntary administration after it left hundreds of travellers stranded at major airports across the country. On Tuesday morning, Bonza passengers departing the Sunshine Coast, Gold Coast, Melbourne and Avalon arrived to find their flights cancelled. Bonza CEO Tim Jordan said the move was “temporary” and discussions were “underway regarding the…
Reporting by Kirra Grimes Sunshine Coast airport has 33 Bonza departing flights and 33 incoming flights scheduled for the next seven days. Flights scheduled for tomorrow include departures to Townsville, Cairns, Albury, Melbourne, and Darwin; and arrivals from Cairns, Townsville, Albury, and Melbourne. Some customers are reporting that they were still able to check in…