Australias bleak retail climate has claimed another scalp with the owner of high-street clothing brands Review, Black Pepper and Yarra Trail sinking in to administration. PAS Group, which employs 1300 people and operates 225 shops in Australia and New Zealand announced on Friday it had entered voluntary administration. The ASX-listed group owns a portfolio of…
A LAND development company headed by Toowoomba businessman Mark Peart that was to undertake a multimillion-dollar project north of Toowoomba has been tipped into liquidation. Homestead Highfields was placed in voluntary administration by Mr Peart on April 21. At a second meeting of creditors on Tuesday, creditors knocked back a proposal from company directors Mr…
The owner of Review, Jets and other apparel brands, PAS Group, has entered voluntary administration, despite the board believing the company is solvent. The move is a last-ditch effort to restructure the company in a way that will enable it to operate sustainably into the future. In a release sent to the ASX on Friday,…
A LAND development company headed by Toowoomba businessman Mark Peart that was to undertake a multimillion-dollar project north of Toowoomba has been tipped into liquidation. Homestead Highfields was placed in voluntary administration by Mr Peart on April 21. At a second meeting of creditors on Tuesday, creditors knocked back a proposal from company directors Mr…
The future of Aussie music festival FOMO is in serious doubt, with reports that the event has gone into liquidation and creditors owed millions of dollars. In an insolvency notice filed with the Australian Securities and Investments Commission (ASIC) on Tuesday, May 15, the festivals status was confirmed to be in liquidation. Notice is given…
QUEENSLAND’S mining services capital of Mackay and its resources resurgence have taken a hit with a longstanding local company going into voluntary administration. Ricbuilt Heavy Industries, a leading engineering company with a strong reputation in the mining services sector, owes creditors more than $2 million. Administrator Frank O’Neill from insolvency firm SV Partners said Ricbuilt’s…
QUEENSLAND’S mining services capital of Mackay and its resources resurgence have taken a hit with a longstanding local company going into voluntary administration. Ricbuilt Heavy Industries, a leading engineering company with a strong reputation in the mining services sector, owes creditors more than $2 million. Administrator Frank O’Neill from insolvency firm SV Partners said Ricbuilt’s…
Australias largest producer of certified organic milk, Organic Dairy Farmers of Australia (ODFA), has entered voluntary administration. It is estimated it has more than $11.5 million in debts. The co-op is 100 per cent owned by 40 family farmers, supplying milk from three main dairy regions of Victoria, central and north-west Tasmania. It provides milk…
THE former director of a major wedding planning company that shocked the Whitsundays when it went into sudden liquidation late last year has spoken publicly for the first time since the business collapsed. In October last year, award-winning wedding planning company, The Wedding Planners Whitsundays, was confirmed to be insolvent and unexpectedly entered into liquidation.…
Australias largest producer of certified organic milk, Organic Dairy Farmers of Australia (ODFA), has entered voluntary administration. It is estimated it has more than $11.5 million in debts. The co-op is 100 per cent owned by 40 family farmers, supplying milk from three main dairy regions of Victoria, central and north-west Tasmania. It provides milk…