The tax office is chasing more than $34 billion worth of debts owed by small businesses and self-employed Australians that were put on hold during COVID, and sometimes using aggressive enforcement action to collect the money, which experts say is sending some businesses to the wall. Some experts are predicting that the rate of insolvencies…
By Brett Lackey For Daily Mail Australia Published: 15:03 AEST, 10 August 2024 | Updated: 15:11 AEST, 10 August 2024 A South Australian residential building company has collapsed leaving 20 homes unfinished and more than 80 creditors with significant unpaid bills. Adelaide Designer Homes has gone into liquidation which is being handled by Anna Agostino…
Booktopia collapses into voluntary administration 9News Read the original article here
The corporate dispute tribunal agency National Company Law Tribunal (NCLT) has ordered initiating insolvency proceedings against Coffee Day Enterprises Limited (CDEL), the parent company of Coffee Day Group which operates Cafe Coffee Day chain of coffee houses. The Bengaluru Bench of the NCLT on August 8 admitted the plea filed by IDBI Trusteeship Services Limited (IDBITSL)…
In short: Childcare group Precious Cargo has gone into voluntary administration. Founder and director Cheryl Shigrov says seven operating childcare centres are affected in South Australia. A further four non-trading entities are in liquidation. What’s next? She says the childcare centres will remain operational until a buyer is found. A Montessori childcare chain that has…
Booktopia has entered voluntary administration after struggling with the expense of transitioning to a $12 million robot-enabled warehouse facility and to raise further funds. The Australian e-tailer began building a new highly automated customer fulfilment centre (CFC) in Sydney last year in a bid to support future expansion. However,… Read the original article here
Since the pandemic, during which insolvency rates were low due to government measures, there has been a considerable rise in insolvencies in the UK and many other jurisdictions. High interest rates have significantly increased the cost of borrowing and many companies are saddled with mountains of debt that was taken out in better times and…
Australian airline Bonza will be placed into liquidation just months after going into involuntary administration. On Tuesday, administrator Hall Chadwick announced the news following a second meeting of creditors, where it was revealed that they “had not received any offers for the sale” of Bonza. “The Administrators ran an extensive sales campaign involving numerous investors,…
Booktopia has been placed in voluntary administration, with its administrators exploring options for selling and/or recapitalising the business. The book retailer has appointed McGrathNicol Restructuring partners Keith Crawford, Matthew Caddy and Damien Pasfield as voluntary administrators, who issued a statement saying they are undertaking “an urgent assessment” of the company’s trading position. The first statutory…
Melbourne caravan maker goes bust Herald Sun Read the original article here