A slowing economy and rising costs pushed a record number of businesses into insolvency last month, but the overall number of jobs fell by just 6600, supporting data suggesting smaller firms were hit hardest. The unemployment rate edged from 3.7 per cent to 3.8 per cent as people seeking work increased to 20,600, largely driven…
Beauty bosses ‘deeply saddened’ by salon liquidation Gold Coast Bulletin Read the original article here
All Rex flights between capital cities have been grounded and the airline has entered voluntary administration just hours after the Albanese government suggested it would intervene to ensure the nation’s third-largest carrier didn’t collapse. Late on Tuesday, EY – formerly known as Ernst & Young – announced it had been appointed as administrators of the…
Australian insolvencies hit a record high in March, according to the latest data released by the corporate regulator. In total, 1131 businesses went bust in the month, which was the largest number since ASIC started collecting these statistics in 1999. Intensifying labour and input costs are a killer for companies with little pricing power. Seasonally…
In a published notice from the Australian Securities and Investments Commission (ASIC) last week, it was revealed that start-up superannuation fund GigSuper has entered voluntary liquidation. At a general meeting on 24 June, it was resolved that the company would be wound up and that principal at DW Advisory, Paul Gerard Weston, would be appointed…
Hello, it’s Harry here in Sydney. Here’s the news you need to start your day. Today’s must-reads:• Rex enters voluntary administration • BHP and Canva deals• Rio earnings Rex has entered into voluntary administration, the second domestic airline to fail this year in a market dominated by Qantas. Regional Express Holdings Ltd., as Rex is…
Business failures are on the rise in Britain, with several high-profile names lost already this year. But since the 1980s, the UK has made it a priority to throw a lifeline to struggling companies. It appears, however, that these efforts to enhance the law are being hampered by sloppy language in the media, increasing the…
End of a 50 year era as popular bakery goes into liquidation Lancashire Evening Post Read the original article here
Rex Airlines has announced it has gone into voluntary administration and cancelled all flights between major airports. A statement posted on Rex’s website on Tuesday said Regional Express Holdings Limited and a number of its subsidiaries under the Rex Group have entered voluntary administration. Ernst & Young Australia have been appointed administrators. The statement said…
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