A notice announcing a temporary closure is posted at a Homeplus store in Seoul, Monday. Yonhap Once Korea’s second-largest discount store operator, Homeplus decided to temporarily close stores beginning Monday after running out of cash, leaving it unable to pay suppliers or even cover basic operating expenses. The retailer now faces an uncertain future after…
Women’s clothing and activewear Stax has entered into voluntary liquidation, with urgent assessment of the business underway. In a grim update from the ACCC, the business appointed Brian Silvia and Michael Hird of Cascap Advisory as joint liquidators for multiple Stax entities. The latest blow for the cult Australian activewear brand follows banking giant NAB…
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Seven Hobart venues have been shut down – effective immediately – as administrators look to find new owners. More than 80 staff employed across Cargo, Jack Greene, Post Street Social, O-Bar, Republic Bar, Franklin Wharf Restaurant and Bar and the Franklin Wharf Function Centre were this morning told that they were being stood down, after…
Seven Hobart bars to close as owner goes into voluntary administration MSN Read the original article here
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Three of Hobart’s best-known waterfront venues will throw open their doors tonight and tomorrow in a last hurrah organised by administrators, days after the hospitality group behind them collapsed. Apex Advisory, the firm overseeing the voluntary administration of the Pub Banc Group, is urging Hobartians to pack out Cargo Bar, Jack Greene and Post Street…
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The Insolvency and Bankruptcy Board of India (IBBI) has released a discussion paper aiming to strengthen the regulatory framework on the corporate insolvency resolution process (CIRP), liquidation, and insolvency and bankruptcy from personal guarantors to corporate debtors. The move intends to plug gaps, reduce procedural uncertainty and align the regulations with the Insolvency and Bankruptcy…
Brasted’s Limited and its sister company Brasted’s Twenty20 Limited went into liquidation in May, with owners Nick Mills, Chris Busby and Sian De Waal citing challenges facing the hospitality industry. Brasted’s Ltd, which was incorporated in 1986 and ran for 40 years, had an overall deficiency to creditors of more than £1.9 million, according to…