Dymocks will also ramp up its social and digital marketing, Newman said, adding that Booktopia’s announcement had already driven more traffic to its website. “It’s just about making sure we are still visible, present, and we’re there to serve any of those customers who choose to shop with us.” The average retail price of a…
Many policymakers have used safeguarding tools to protect funds against loss of value and illiquidity risk, but the rules may not provide sufficient safety in practice. For example, many common law countries require mobile money firms to store funds in a trust. A trust structure aims to ensure funds provided by customers are unreachable by…
NT company director’s death complicates liquidation NT News Read the original article here
Rex Airlines customers have been offered guaranteed regional flight bookings by the Albanese government on Thursday after the embattled company announced last month it had entered voluntary administration. In a statement, Infrastructure Minister Catherine King said travellers could continue to book flights with Rex as the process to determine the airline’s future was being considered.…
Allianz Trade does not expect a tsunami of business insolvencies as recorded in the aftermath of the great financial crisis, when global insolvencies skyrocketed by +17% and +19% in 2008 and 2009, respectively. However, the catch-up should be noticeable in several countries, in particular the advanced economies of Europe, due to specific firms (the most…
Parents from 26 West Australian schools have been left without professional photos of their children, that they paid for, after a school photography business went under. Liquidators were appointed for Academy Photography Australia late on Friday May 10th 2024. Drive understands 26 WA schools are in the same position, having had school photos taken which…
The federal government has announced it will guarantee all flight bookings for the embattled airline Rex as it continues its regional operations while under voluntary administration. On Thursday the transport minister, Catherine King, said Rex customers flying on regional routes would now have certainty “they will either fly or get their money back”, with the…
Several of these factors contributed to the rising levels of formal insolvency appointments and distressed asset sales seen over the past year, which is likely to continue into 2024. In this article, we look back at, and think forward to, the trends and legal developments which businesses, insolvency professionals, accountants and investors need to be…
‘Stressful’: All staff sacked over email news.com.au Read the original article here
In short: Hundreds of Rex Airlines employees have been officially let go from the regional carrier after being told the business was “not viable”. Workers were informed their jobs were at risk at an all-staff meeting on Wednesday. What’s next? Administrators will hold their first creditors’ meeting on August 9, when staff will receive an…