There is cause for optimism. Inflation is falling and the beginnings of a global economic recovery is expected next year. But first, companies in the UK and beyond must survive some significant challenges: Looming profitability squeeze: While a global and UK recovery is in sight for 2025 (we expect 2025 GDP to grow by 1.5%…
Getty Digital marketing agency No Standing has gone into voluntary liquidation, leaving 17 staff without jobs and with pay owing, according to documents lodged with corporate regulator ASIC. Daniel Juratowitch of Cor Cordis has been appointed liquidator for the full service Melbourne-based agency founded in 2016. He estimates the company owes more than $2.5 million.…
The federal government will guarantee Rex flight bookings for existing and future customers as the budget carrier undergoes voluntary administration. Regional flights have continued while a buyer or financial lifeline is sought for Rex. The federal government will guarantee Rex flight bookings for customers as the budget carrier undergoes voluntary administration. (Getty) Minister for Infrastructure,…
The Body Shop has filed for bankruptcy in the US and Canada and is struggling to pay suppliers in Australia as the group’s most profitable overseas businesses struggle with cash shortages after its UK parent’s collapse last month. The US arm of the ethical cosmetics group has ceased trading at its 50 outlets. On Saturday,…
In short: The NSW Supreme Court has appointed liquidators for the Gateway Marina at Burnett Heads. Liquidators find companies owe $7.9million to creditors. What’s Next? Developer Simon Harvey hopes the project will continue under new ownership. A $250 million marina development on the edge of the Great Barrier Reef has gone into liquidation, owing millions of dollars…
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Creditors of one of the main companies in René Benko’s Signa Group have alleged it fell into insolvency because of “illicit” financial transactions, not a downturn in the European property market. Their claim contradicts earlier…
A caravan company has suddenly collapsed, leaving dozens of customers out of pocket and a handful without homes. On Wednesday afternoon, Victorian-based Tango Caravans Pty Ltd plunged into liquidation. The business manufactured customised caravans and was headquartered in Somerton, Melbourne. Tyler Edmunds, a father-of-two, had been fearing the worst for months after being promised his…
Stay on top of all of the latest news about Rex’s voluntary administration, plus its impacts on travel and the travel industry in one place, right here. We’ll continue to refresh stories about Rex Airlines as they come to hand, so be sure to check back for the most current and accurate travel industry updates.…
Monster company collapses owing $80m news.com.au Read the original article here