Monthly business insolvencies have risen to a level not seen since 2015, as a long-expected landslide of corporate collapses hits the Australian economy. Figures presented by the Australian Securities and Investments Commission (ASIC) this week show 967 businesses entered external administration or had a controller appointed to them in February. That is a significant jump…
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Billson’s Brewery has announced that the business has been placed into voluntary administration in a statement shared on social media today. Billson’s Brewery was established in 1865 in Beechworth, Victoria, and is currently run by Nathan Cowan and his wife Felicity Cottrill. The beverage brand is widely known as an RTD manufacturer, but also produces…
Tritium, an Australian high-speed EV-charging equipment manufacturer with a large-scale factory in Tennessee, notified regulators on Thursday that it was insolvent, casting uncertainty over whether it can continue to fulfill remaining orders for chargers or service those that its customers have already installed. In a Thursday filing with the U.S. Securities and Exchange Commission, Tritium DCFC Ltd.,…
A bitter dispute that emerged after a widely publicised PR stunt involving Roxy Jacenko has taken another turn as the company involved was plunged into liquidation. On Wednesday, the Supreme Court of NSW ordered that provisional liquidators take over Roxy’s Bootcamp Pty Ltd. Then late on Thursday, an ASIC notice revealed that Andrew Blundell and…
Following a series of efforts to stay afloat, Booktopia has officially called in the administrators after 20 years of operation. As of 3 July 2024, McGrathNicol Restructuring Partners Keith Crawford, Matthew Caddy and Damien Pasfield have been appointed Voluntary Administrators of Booktopia Group Limited and its subsidiaries. According to an announcement posted on the ASX,…
The agency feels the average recoveries for lenders will continue to be in the 30-35 per cent range in FY25. 3 min read Last Updated : May 17 2024 | 6:52 PM IST The haircuts taken by creditors in bankruptcy resolutions have increased to 73 per cent in FY24 from the 64 per cent…
90 jobs lost as bakery empire collapses news.com.au Read the original article here
As a book lover and borderline reading addict, it has pained me to see another book distributor go into voluntary administration, and in fact, it’s answering a few of the questions I have had for months. It was announced yesterday that Booktopia, one of Australia’s biggest and most loved online bookstores, has gone into voluntary…
The economy is slaughtering Aussie businesses and there’s no sign of things letting up. Company collapses surged in February and reached a level that hasn’t been seen for the past nine years, according to new data released on Monday by the corporate regulator, the Australian Securities and Investments Commission (ASIC). “Insolvencies are increasing significantly,” Cliff…