Accountancy firm liquidated due to $255k ATO debt – Gladstone Observer

GLADSTONE accounting firm Corporate Accountants has been wound up because it owes a quarter of a million dollars to the Australian Taxation Office. The company’s directors appointed liquidators John Shanahan and Clare Birnie on March 29. The Gervase Consulting liquidators have launched an investigation into what led to the business’s collapse and identify who the…

Regional telco Field Solutions Holdings steps up Queensland wireless play – ARNnet

Rural and regional telecommunications carrier Field Solutions Holdings (ASX:FSG) is boosting its Queensland footprint with the construction of new infrastructure in the states central region. The publicly-listed telco and cloud solutions provider told shareholders on 9 May that it will deploy both fixed wireless and rural reach network solutions to the Blackall and Tambo townships,…

NCLT admits Union Bank of India’s insolvency plea against Era Infra – Livemint

Photo: Mint New Delhi: The National Company Law Tribunal (NCLT) principal bench on Tuesday admitted Union Bank of Indias (UBIs) plea seeking initiation of insolvency proceedings against Era Infra Engineering Ltd for recovery of Rs681.04 crore, along with an overdue external commercial borrowing of $11.97 million. The order on admission of the plea was reserved…

Franchisees gagged as Red Rooster, Oporto enter damage control – The Sydney Morning Herald

Franchisees gagged Steve Beadle’s Red Rooster franchise in the Melbourne suburb of Lyndhurst went into liquidation three months ago and Beadle says he was “effectively a slave” working for free for seven years and ending up $500,000 in debt. But Beadle says most current and former franchisees can’t reveal their struggles with Craveable as they…

Baby Bunting has an enviable problem: its competitors keep collapsing – The Sydney Morning Herald

On Tuesday Baby Bunting confirmed that sales and gross margins had been damaged “both in the lead up to and since these competitors entered administration”. What we have seen in the industry during this financial year in terms of the extent of consolidation is unprecedented,” Baby Bunting chief executive Matt Spencer said in a statement.…

Unprecedented: Baby Bunting chief says tough conditions will cost it up to $5 million in earnings this year – SmartCompany.com.au

Retailer Baby Bunting is the latest brand to highlight incredibly tough sales conditions in the lead-up to the end of financial year, confirming the collapse of two other baby goods providers this year has had an impact on its sales. In May the brand warned shareholders that things may not pan out as expected this…