More than 70 jobs will be cut at troubled regional airline Rex as administrators continue to evaluate the business and search for an appropriate buyer. Rex collapsed into voluntary administration in late July, after days of speculation about the airline’s future. Since administrators from consulting firm EY were appointed, a total of 594 jobs have…
Vacuum giant Godfreys collapses after 90 years Hawkesbury Gazette Read the original article here
A Gilbert-based electric vehicle charging company that landed millions of dollars in a venture capital deal last year is liquidating its assets and closing its business. Zevx Inc., via special purpose entity Zevx Liquidation LLC, auctioned off inventory — including battery packs, modules and equipment — from its warehouse at 565 E. Germann Road in…
A buyer has been secured for Booktopia after the troubled online retailer collapsed into administration last month following a major slump in share value. The ailing business and related assets was bought by the owner of digiDirect last week, an Australian-owned business specialising in consumer electronics like cameras, computers and gaming tech. Administrators shared the…
Liquidations in the British Virgin Islands can be either an insolvent liquidation governed by the Insolvency Act 2003 (as amended), or a solvent liquidation governed by the BVI Business Companies Act (as amended). This article provides a brief overview of insolvent liquidations. Insolvent liquidation The purpose of an insolvent liquidation is to bring a company’s…
The voluntary administration period for Sunshine Coast-based airline Bonza has been extended for another two months. The Federal Court has granted Bonza administrators, Hall Chadwick, extra time to hold a second meeting of creditors. The main purpose of the extension is to provide the Administrators with further time to conduct a sale of Bonza’s business…
Image: Facebook/CarlsJrAU Facebook LinkedIn US burger chain Carl’s Jr has placed its Australian stores into voluntary administration, affecting 24 stores nationwide. CJ’s Group is a licensee of Carl’s Jr. restaurants in Australia and independently owns and operates 24 Carl’s Jr. restaurants. The CJ’s Group also serves as the master licensee to 25 Carl’s Jr. restaurants…
Booktopia was bought by digiDirect owner Shant Kradjian Booktopia entered voluntary administration in early July READ MORE: By Ashley Nickel For Daily Mail Australia Published: 11:29 AEST, 19 August 2024 | Updated: 12:57 AEST, 19 August 2024 One of Australia’s biggest book retailers has been rescued by a buyer after it entered voluntary administration last month. …
The owner of popular fashion accessory brands Colette by Colette Hayman and The Daily Edited has entered voluntary administration. Marquee Retail Group said it aims to keep all 60 stores open while in voluntary administration and has no plans to cuts its 400 workforce. It would be “business as usual”, the company said as it…
Infamous Swim has secured backing of approximately $1 million through a group of entrepreneurs from the tech, e-commerce, fashion and communications sectors, with the founder of the original mummy-and-me swimwear brand confirming the label has been restructured and is now operating in a new company structure with new directors. It comes after the swimwear brand…