Struggling airlines Qantas and Virgin Australia are on the cusp of boom time with news a coronavirus vaccine is close, an aviation boss has predicted. Ryanair supremo Michael O’Leary has rubbished aviation industry forecasts that the sector will take years to recover from the pandemic downturn. “There’s going to be an enormous snapback on travel…
An iconic Australian retailer based in the heart of Brisbane’s CBD has collapsed into liquidation after the closure of international borders eliminated its largest customer base. UGG & Emu, a long-time tenant in the Queen Street Mall, was placed into liquidation this week after closing its doors on Sunday owing over half a million dollars.…
Arabtec may struggle to meet the end of November deadline set by shareholders to formally submit liquidation plans to a court. Creditors and banks awaiting details of Arabtec Holdings liquidation face mounting uncertainty after talks to unwind the company stalled. Earlier reports suggested the United Arab Emirates based contractor appointed AlixPartners to work on a…
news, latest-news, Riot Art & Craft, Port Macquarie, business, Dye & Co, liquidation, SLKALT Pty Ltd The Riot Art & Craft outlet in Port Macquarie has closed and the company behind the chain’s bricks-and-mortar stores is in liquidation. SLKALT Pty Ltd has ceased trading, its 56 Riot Art & Craft stores are shut and employees…
HOUSTON, Nov. 10, 2020 /PRNewswire/ –Luby’s, Inc. (NYSE: LUB) (the “Company”) today announced that Institutional Shareholder Services Inc. (“ISS”), a leading proxy voting advisory firm, has recommended that Luby’s stockholders vote in favor of the Company’s Plan of Liquidation and Dissolution (the “Plan”). In recommending “FOR” the Plan, ISS noted that1: “The board appears to…
Member Article Months after the initial lockdown, it has become clear that the pandemic will create long-term or even lasting changes that will mean some businesses are no longer viable. As the Government gradually withdraws the support packages available, it is vital that managers assess their business in light of the new normal. The sooner…
IMAGES VIA ALICE MCCALL WORDS BY JULIETTE CAPOMOLLA Another one bites the dust. In another blow to Australias fashion industry, popular Australian designer Alice McCall announced yesterday that her brand will be entering into voluntary administration. In a statement, McCall attributed the downfall of the brand to the coronavirus pandemic and unsustainable brick-and-mortar operations. Designers…
Hundreds of thousands of dollars in compensation will be paid to a group of grey nomads and retirees after a Queensland motorhome dealer was found responsible for causing them financial loss. Key points: The Queensland Office of Fair Trading is awarding nine motorhome owners a total of $700,000 Beth Stephensen says it was “like Christmas”…
Luxury fashion brand alice McCALL has now gone into voluntary administration, sadly following a long line of retailers that have had to shut up shop due to COVID-19. Fashion designer behind the brand Alice McCall herself gave a statement to 9News discussing her need to edit down the business and rework into a more sustainable…
10 November 2020: Proposed legislation which places certain conditions on connected person sales in administration is very much under the spotlight. Will the proposed regulations solve the perception problem? A framework in which companies can be rescued or dissolved but endeavours to preserve jobs and look out for creditors is intrinsic to doing business. COVID…