Booktopia collapses into voluntary administration – 9News
Booktopia collapses into voluntary administration 9News Read the original article here
NCLT orders insolvency proceedings against Coffee Day Enterprises
The corporate dispute tribunal agency National Company Law Tribunal (NCLT) has ordered initiating insolvency proceedings against Coffee Day Enterprises Limited (CDEL), the parent company of Coffee Day Group which operates Cafe Coffee Day chain of coffee houses. The Bengaluru Bench of the NCLT on August 8 admitted the plea filed by IDBI Trusteeship Services Limited (IDBITSL)…
Montessori childcare chain Precious Cargo goes into voluntary administration after 18 years of trading
In short: Childcare group Precious Cargo has gone into voluntary administration. Founder and director Cheryl Shigrov says seven operating childcare centres are affected in South Australia. A further four non-trading entities are in liquidation. What’s next? She says the childcare centres will remain operational until a buyer is found. A Montessori childcare chain that has…
Booktopia in administration after troubled automated warehouse move – Hardware – Software
Booktopia has entered voluntary administration after struggling with the expense of transitioning to a $12 million robot-enabled warehouse facility and to raise further funds. The Australian e-tailer began building a new highly automated customer fulfilment centre (CFC) in Sydney last year in a bid to support future expansion. However,… Read the original article here
Insolvency risk on the rise – Global Directors’ and Officers’ Survey 2024
Since the pandemic, during which insolvency rates were low due to government measures, there has been a considerable rise in insolvencies in the UK and many other jurisdictions. High interest rates have significantly increased the cost of borrowing and many companies are saddled with mountains of debt that was taken out in better times and…
Bonza airline to go into liquidation
Australian airline Bonza will be placed into liquidation just months after going into involuntary administration. On Tuesday, administrator Hall Chadwick announced the news following a second meeting of creditors, where it was revealed that they “had not received any offers for the sale” of Bonza. “The Administrators ran an extensive sales campaign involving numerous investors,…
Booktopia enters voluntary administration – Inside Retail Australia
Booktopia has been placed in voluntary administration, with its administrators exploring options for selling and/or recapitalising the business. The book retailer has appointed McGrathNicol Restructuring partners Keith Crawford, Matthew Caddy and Damien Pasfield as voluntary administrators, who issued a statement saying they are undertaking “an urgent assessment” of the company’s trading position. The first statutory…
Melbourne caravan maker goes bust – Herald Sun
Melbourne caravan maker goes bust Herald Sun Read the original article here
Maxcon Developments on brink of possible collapse, facing liquidation over $22m tax debt
A company linked to a major Australian builder is on the brink of possible collapse over a $22 million unpaid tax debt. Last Friday, the Deputy Commissioner of Taxation took a building related company called ACN 152 259 839 Pty Ltd to the Federal Court calling for the business to be wound up on the…
Billson’s enters voluntary administration
Wangaratta Chronicle Billson’s enters voluntary administration Jul 31 2024 Updated August 1, 2024 BILLSON’S… Read the original article here