Insolvency, collective redundancies and criminal liability – People Management Magazine

Recent news reports have highlighted that the number of corporate insolvencies has continued to rise during 2022 and 2023, with the retail sector being particularly affected. Many companies are struggling to meet the demands of repaying government support provided during lockdown, increased running costs and high wages coupled with lower demand as a result of…

Landfills and liquidation sales: what happens to the purchases you return? – The Guardian

The gifting is done. Some were successful, others less so the wrong color, size, redundant, too impulsive, not suitable for re-gifting. US consumers return about 20% of all online purchases and the post-holiday period is when the massive, but often unseen, returns logistics industry the reverse supply chain goes into overdrive. According to the National…

Misappropriation Scandal Rocks Workspace One Amidst Liquidation – BNN Breaking

Workspace One Director Accused of Misappropriation Amidst Company Liquidation When Kathryn Arnold, director of Sydney-based Workspace One Pty Ltd, a construction company specialising in office space refurbishments, transferred $861,000 to her personal bank account, she set in motion a chain of events that left the company in liquidation and its creditors in a lurch. The…

UK Predicted to Face Highest Corporate Insolvencies Since 2004 – BNN Breaking

UK Braces for Highest Corporate Insolvencies Since 2004: PwC Report According to predictions by PricewaterhouseCoopers (PwC), the United Kingdom is bracing for a sharp increase in business insolvencies, with nearly 30,000 entities anticipated to fail in the next 12 months. This projection marks an alarming 15% surge, taking corporate insolvencies to their highest level since…

MMD Concrete Construction collapses into liquidation owing $1.2m, 'no cash' in bank account | news.com.au … – news.com.au

Creditors of a collapsed company in the building sector learned just before Christmas that they will not recover a single cent of their lost money. Victorian business MMD Concrete Construction Pty Ltd went into voluntary liquidation in September owing more than $1.2 million to creditors. Of that, $233,000 is owed to the Australian Taxation Office…

Zulily Begins Liquidation After Several Rounds of Layoffs – PYMNTS.com

Citing a challenging business environment, online retailer Zulily is closing its doors. The company announced its liquidation process on its website Wednesday (Dec. 27), informing customers that it hopes to fill all ending orders in the weeks ahead. This decision was not easy nor was it entered into lightly, the company announcement said. However, given the challenging business environment…

US online retailer Zulily says it will go into liquidation, surprising customers – ABC News

The U.S. ecommerce company Zulily says it is closing down, surprising customers, after efforts to salvage the business failed SEATTLE — The U.S. online retailer Zulily is closing down, surprising customers and laying off hundreds of workers after efforts to salvage the business failed. The Seattle-based company said in a notice on its website that…

Cabinet to consider possibility of liquidation of State Lottery Company – AKIpress

Cabinet to consider possibility of liquidation of State Lottery Company AKIPRESS.COM – Chairman of the Cabinet of Ministers Akylbek Japarov heard the annual work reports of the state enterprises and joint-stock companies. The Cabinet Chairman slammed work of the State Lottery Company, which has been lossmaking for 2 years. “Why the state should support the…