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…
Rex Airlines enters voluntary administration The Northern Daily Leader Read the original article here
Rex staff told to provide ‘quality service’ to ‘secure their jobs into the future’ Goulburn Post Read the original article here
The Insolvency and Bankruptcy Code, 2016, has a timeline of 270 days to complete the Corporate Insolvency Resolution Process (CIRP), including any extensions granted. This includes an initial 180 days, plus an additional 90 days in exceptional circumstances. As per the latest figures up to December 2023 released by the Insolvency and Bankruptcy…
DigiDirect’s owner Shant Kradjian has also confirmed his intent to hire 100 extra staff on top of those still remaining, administrators McGrathNicol Restructuring said today. Former staff are also encouraged to rejoin the company. Booktopia has been purchased by digiDirect. (Booktopia) “We are incredibly pleased to have completed the sale of the Booktopia business to…
The Association for Business Restructuring & Turnaround launches this week with the goal of accrediting specialists in company turnaround and setting professional standards. ABRT founder Eddie Griffith said the body would aim to address problems identified by the parliamentary insolvency inquiry and had sprung out of conversations between like-minded specialists. “We came up with the…
The Eel Screen Company Ltd. provided a false turnover to secure a £50,000 Bounce Back Loan in 2020, the maximum allowed under the scheme which was designed to support businesses during the pandemic Financial inconsistencies were also found in the company’s application for a £225,000 Recovery Loan Scheme loan almost two years later Investigations by…
Liquidators reveal home building company’s $300k debt to staff Geelong Advertiser Read the original article here
An Off Ya Tree location in Melbourne CBD’s Collins Street. Source: Google Maps The business behind alternative clothing, body piercing, and former bong retailer Off Ya Tree has fallen into liquidation, as the retail chain assures customers a dozen stores will remain operational. Con Kokkinos of insolvency firm Worrells was appointed as liquidator for Thendro…