Two former directors, turnaround specialists and an opportunistic crypto investor. Welcome to the eclectic bidder fray for embattled airline Regional Express, better known as Rex. Street Talk understands a fleet of parties has lobbed indicative offers for Rex three weeks after the airline was plunged into voluntary administration, fanning the debate about whether Australia can…
The debts of a collapsed group of manufacturing companies have snowballed as liquidators wade through the mess. Last week, news.com.au reported that the final company involved in the Sydney-based GDK Group had been court-ordered to go into liquidation. The Federal Court ordered Joinery Manufacturing Solutions Pty Ltd to go into liquidation over an unpaid tax…
An independent building company that is part of a major national construction chain has collapsed. News.com.au can reveal that Victorian-based building company Station 293 Pty Ltd went into liquidation last Friday with money owed to “lots and lots of tradies”. The construction firm traded under Cavalier Homes Geelong and as its namesake would suggest, it…
Major retailer Johnny’s Furniture has gone into administration due to a “significant decline in revenue”. The company had 15 stores in Australia at the height of its 10-plus years in operation. That has been reduced to eight — four stores in Queensland, three in New South Wales and one in Victoria. Company directors are scrambling…
Star of the Sea College latest school caught up in space camp nightmare Herald Sun Read the original article here
The Lambton Nextra, which operated as a Licenses Post Office until May 1. Source: Facebook A Newcastle licensed post office that fought to keep its doors open has entered liquidation, as Australia Post champions reforms it says will make its services more efficient and financially sustainable. TNT Family Pty Ltd, which traded as Lambton Post…
A national medical script provider has collapsed less than three weeks after it was hacked. On Tuesday, digital prescription company MediSecure Limited went into administration while a subsidiary of the business, Operations MDS Pty Ltd, went into liquidation. Vaughan Strawbridge and Paul Harlond of restructuring firm FTI Consulting have been announced as the joint administrators…
A national recruitment and employment agency has collapsed into administration, with 32 people already told they had lost their jobs. WA-headquartered Collar Group appointed David Ross and David Ingram of I&R Advisory as administrators early this week, a decision the company said was a necessary step “to align expenses with our current revenue realities”. Read…
After months of a divestment strategy and restructuring program to reduce debt, Mighty Craft has gone into voluntary administration after the collapse of a proposed merger with Better Beer. Liam Healey and Quintin Olde from restructuring company, Ankura, have been appointed administrators. Mighty Craft also had a debt repayment deadline looming, having reached an agreement…
By Peter Roberts Vanadium flow battery manufacturer Redflow has gone into voluntary administration after failing to secure new funds from investors. The company, which manufactures its Australian developed batteries in Thailand, has appointed Richard Hughes and David Orr from Deloitte as administrators. Redflow was one of the first to launch a commercial vanadium flow battery…