The 79-year-old luxury handbag retailer has struggled financially in sales, resulting in $14.3 million in losses last year according to The Herald. This was compared to a $3.4 million profit the previous year. The company revealed this morning that an eight-month strategic review failed to find a “viable option” to secure its future. In a statement to the…
Bryan and Mai Hughes plan to launch My Foodie Kit in March. Picture: Simon Santi When you think of Bryan Hughes, corporate insolvency and hardcore business negotiations usually spring to mind. But the Pitcher Partners chairmans latest venture is a completely different flavour. He and wife Mai are launching meal-kit business My Foodie Box a…
UPDATE 12PM: THE administrators of embattled Ostwald Construction Materials has confirmed today that Ostwald brothers Brendan, Daniel and Matthew will regain control over the company. After a second creditors meeting this morning, administrator Derrick Vickers of PriceWaterhouseCooper revealed that creditors had accepted a Deed of Company Arrangement (DOCA) submitted by the three brothers and a “silent…
A Tauranga building company is being wound up after work stopped on about 30 houses at The Lakes in October. Bella Vista Homes went into voluntary liquidation this week, leaving one young family worried about the prospect of incurring extra costs to complete their home. Liquidator and Hamilton accountant Kim Thompson said that everyone who…
LUXURY handbag maker Oroton has collapsed, becoming the nation’s latest retail victim. The listed luxury retailer, whose most recent public face has been Aussie actor Rose Byrne, announced this morning is was placing itself in voluntary administration. Since the announcement was made, people have been hitting the label’s outlet website to snap up heavily discounted…
Rigby Cooke Lawyers has strengthened its expertise in litigation and insolvency with the appointment of Katerina Poulakis as senior associate. Poulakis, who has 10 years experience as a lawyer, came from SLF Lawyers. She has a wide range of expertise, including acting in contract, franchise, property and Australian Consumer Law disputes. She also advises in…
NEW DELHI: Allahabad bench of the bankruptcy court has rejected a plea from Exim Bank to treat its claim of Rs 625 crore on JEKPL Private Limited to be treated as financial debt after insolvency proceedings have been filed against the Allahabad-based firm. The decision of Allahabad National Company and Law Tribunal (NCLT) is expected…
NEW DELHI: Allahabad bench of the bankruptcy court has rejected a plea from Exim Bank to treat its claim of Rs 625 crore on JEKPL Private Limited to be treated as financial debt after insolvency proceedings have been filed against the Allahabad-based firm. The decision of Allahabad National Company and Law Tribunal (NCLT) is expected…
NEW DELHI: The ordinance aimed at keeping promoters who are wilful defaulters from bidding for their companies during the insolvency process was the result of lengthy deliberations and will improve the lending and borrowing culture in the country, corporate affairs secretary Injeti Srinivas told ET. Further changes to the Insolvency and Bankruptcy Code (IBC) will…
The well-known Australian handbag and accessories retailer Oroton has gone into voluntary administration. Key points: Oroton says no jobs in jeopardy at this stage Company reported a loss of $14.2m for the 2016-17 financial year Pumpkin Patch, Marcs, David Lawrence, Herringbone also went under in the past 18 months In a statement to the…