Online retailer Booktopia has been bought by electronics retailer digiDirect, after the company went into administration due to severe financial difficulties. First founded in 2004, Booktopia was an Australian-based online book retailer, and competed with Amazon for online book sales. Booktopia entered voluntary administration in July with debts totaling around $60 million. This is after…
Above: Ben Eaton Starleaton administrators are recommending creditors accept a Deed of Company Arrangement put forward by company director Ben Eaton. Eaton has been confirmed as the ‘related party’ identified as offering a Deed of Company Arrangement (DOCA) the day before creditors were likely to vote that the business should enter liquidation. Starleaton administrators issued…
In short: Customers of a GJ Gardner Homes franchise had spent over a year urging the national company to intervene over ongoing workmanship problems and delays. The franchisee has now entered liquidation – but customers say it should have been resolved far sooner. What’s next: It follows the liquidation and bankruptcy of other GJ Gardner franchisees, but the…
By Mike O’Connor | 21 May 2024 Momento Photo Books, the Sydney-based photo book publishing company, is to close after 20 years in business. The company confirmed it had gone into liquidation in a Facebook post last night. “Despite every effort to keep the business alive, economic conditions of the last few years sealed our…
The outlook for creditors hoping to recover their dues from the liquidated Classic Financial Services One seems grim. According to the preliminary findings of the section 402 report, the company faces a significant shortfall, with its liabilities far outweighing its assets. Cobus Geldenhuis, director of Classic, was debarred in 2009 for dishonesty but continued his…
A POPULAR Glasgow restaurant has issued a major update on its future after “liquidation” fears. It was previously unknown whether Sapporo Teppanyaki would remain open after a notice in The Gazette appeared to show that the venue had collapsed. 1 A popular Glasgow restaurant has issued a major update on its futureCredit: Google The Ingram…
Cliftonville Lido The company which owns two parcels of the Cliftonville Lido has moved from administration to creditors’ voluntary liquidation – with a deal underway to buy the Lido sites for £700,00. Company Stour Side Developments bought property including the Lido in 2014. Administrators Duff & Phelps were brought in during July 2017 after concerns…
(Bloomberg) — A mainland Chinese court accepted a liquidation application filed against a China Evergrande Group unit earlier this month, triggering a formal legal process that ratchets up the pressure on the defaulted developer to either restructure or face liquidation in its main base of operations under a worst-case scenario. The Intermediate People’s Court of…
Embattled regional airline Rex is expected to slash more than 70 more jobs than originally planned when the company fell into voluntary administration last month. Ernst and Young administrators took over the troubled business in an effort to save the airline from collapse, which included cutting a total of 594 jobs from the airline’s domestic…
Embattled Chinese development company, Evergrande, has been ordered to liquidate by a Hong Kong court after an 18-month long hearing. Evergrande, which holds the ignominious title of the world’s most indebted property developer with about $300bn in liabilities, failed to convince the court that it had a viable restructuring plan, after having been given seven…