Corporate insolvencies in England and Wales are now at their highest level since 2009. The rise in insolvencies follows the end to the Government’s Covid-19 support schemes, the buildup of debt post-pandemic, unprecedented inflation and interest rate increases. More frequently than ever, questions are being raised as to what happens if a company is suffering…
In short: Perth builders Collier Homes was placed into liquidation earlier this week, after more than 60 years in operation. It is the latest in a series of building company collapses that have plagued the industry nationwide since the COVID pandemic. The WA government said it stood by its post-COVID stimulus packages that ‘turbo-charged’ the market.…
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…
Stay informed with free updates Simply sign up to the Utilities myFT Digest — delivered directly to your inbox. The UK government is updating water company insolvency laws as fears grow over the financial health of the privatised monopolies — including the country’s largest, Thames Water. The Department for Environment, Food and Rural Affairs last…
‘Lost half a million’: Company behind footwear brand collapses Sunshine Coast Daily Read the original article here
The hits keep coming at collection outfit Panthera Finance. PwC Australia has been appointed voluntary administrator to PF Group Holdings Pty Ltd and PF Management Holdings Pty Ltd – the parent entities of Brookfield Special Investments-backed Panthera Finance Group’s subsidiary companies – by the group’s secured creditor. Loading… Read the original article here
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…
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…
Wall Street’s main stock indexes closed higher on Tuesday, boosted by gains in Tesla and megacap growth stocks, but volumes were thin ahead of the July Fourth holiday and the closely watched release of June nonfarm payrolls on Friday. The US Job Openings and Labor Turnover Survey, or JOLTS, showed job openings increased in May…
1 min read Last Updated : Feb 20 2024 | 11:04 PM IST Over one-third of the corporate insolvency resolution processes that were withdrawn after admission resulted in full settlement with the creditor who filed the insolvency application, the latest data by the Insolvency and Bankruptcy Board of India (IBBI) shows. A total of…