Kirribilli Club enters voluntary administration

The Kirribilli Club in Sydney’s north shore has entered voluntary administration. The club appointed Hugh Armenis of SV Partners administrator on June 19. After an initial period of trading to “assess the status” of the club, it ceased trading on June 24. The ex-services club, with over 18,000 members, was founded in 1946, and boasts…

EY comments on Q4 2023 company insolvency data

Simon Edel, UK Turnaround and Restructuring Strategy Partner at EY-Parthenon: “Company insolvencies in 2023 reached their highest annual total in 30 years reflecting the difficult business environment that companies have faced over the last 12 months. The final quarter of 2023 also saw the highest quarterly number of Creditors Voluntary Liquidations (CVLs) since this data started to…

Hansen Constructions NQ goes into liquidation

A civil construction company has gone bust, leaving millions in unpaid debts and dozens of workers out of a job. Mainscarf, which trades as Hansen Constructions NQ, fell into voluntary administration on January 3, with administrators David Stimpson and Michael Brennan of SV Partners appointed to take control of the North Queensland company. A report…

Major Melbourne company collapses owing $29m

An Australian manufacturer, with sites in the US and Malaysia, has collapsed owing a staggering $29 million. The 60-year-old company, called Camatic Pty Ltd and trading as Camatic Seating, designed, manufactured and installed seating in stadiums, arenas, cinemas, theatres, educational institutions and transit areas around the world. On its website, the firm boasted it had…