Launched in Australia back in 2017, Miniso is headquartered in Guangzhou, China, It is understood the company suffered from a lockdown decline in foot traffic, and it did not have a very strong e-commerce strategy. Minisos local landlords, including ASX-listed centre owners Scentre Group, GPT Group, Vicinity Centres and Stockland, are not receiving rent payments…
Opening Remarks by Mrs. Elsie Addo Awadzi, 2nd Deputy Governor of the Bank of Ghana Ghana Association of Restructuring and Insolvency Advisors (GARIA) Webinar on the Corporate Insolvency and Restructuring Act, 2020 (Act 1015) 26th August 2020 Members of the Governing Council and Executives of GARIA Distinguished GARIA Members Distinguished Resource Persons Invited Guests, Ladies…
THE WHAT? Inglot Cosmetics has become the latest victim of the COVID-19 pandemic as its owners announced that it would place the Irish holding company into liquidation, according to a report published by the Irish Times. THE DETAILS The Swarbrigg family will continue to run the brand as an online and wholesale operation, closing all…
Administrators for scandal-hit payments firm Wirecard said on Tuesday that the insolvent company would lay off more than half its remaining German staff. Wirecard’s workforce will be cut by 730 from around 1,300 staff currently, with 570 kept on at the firm’s base near Munich. “The economic situation of Wirecard was and is extremely difficult…
Administrators for scandal-hit payments firm Wirecard said on Tuesday that the insolvent company would lay off more than half its remaining German staff. Wirecard’s workforce will be cut by 730 from around 1,300 staff currently, with 570 kept on at the firm’s base near Munich. “The economic situation of Wirecard was and is extremely difficult…
Thousands of travellers who booked trips with STA Travel could find themselves out of pocket, after the company was placed into voluntary administration. Source: istock.com Some people said they were promised refunds or credit notes by STA, but they had battled for weeks to get an answer about what happened to their money. Emily Vale…
Thousands of travellers who booked trips with STA Travel could find themselves out of pocket, after the company was placed into voluntary administration. File photo. Photo: 123RF Some people said they were promised refunds or credit notes by STA, but they had battled for weeks to get an answer about what happened to their money.…
BUSINESS is full of highs and lows. The Toowoomba business community has been through a lot in the last year. Here are the businesses that shut up shop. Charred David Wood of Charred with frozen meals at The Toowoomba Farmers Market. The restaurant has moved to offering takeaway meals after coronavirus fears impact trade, Saturday,…
The Australian Securities and Investments Commission (ASIC) has pointed to a situation where there may not be enough registered liquidators (RLs) to handle COVID-19 related corporate insolvencies because many of the RLs are facing financial struggles themselves. ASIC had revealed the dilemma to the Parliamentary Joint Committee on Corporations and Financial Services noting it as…
STA Travel Group has collapsed into voluntary administration. It comes after the collapse of its Swiss-based parent company STA Travel Holding AG. Deloittes Jason Tracy and Timothy Norman were appointed as administrators, with the company telling customers that they are unable to provide cash refunds. Visit Business Insider Australias homepage for more stories. Travel agent…