Australian food retailer SumoSalad has placed itself into voluntary administration in order to give the company some breathing space and help the owners restructure the business. In a statement, the company revealed its management had placed the company into administration as part of a long-term strategy to restructure and extend the brand. However they stressed…
Image courtesy of Doughnut Time Facebook Just four months after going into administration and liquidation, new owners have announced the revival of Doughnut Time under new owner Pete Andros, with the first stores to relaunch August 1. A post on the companys Facebook page earlier this week noted the brand was coming back and would be…
Photo: Pradeep Gaur/Mint New Delhi: The Insolvency and Bankruptcy Board of India and the insolvency resolution professional for Jaypee Infratech Limited (JIL) urged the Supreme Court on Wednesday to revive corporate insolvency resolution process for the debt-ridden company and constitute a fresh committee of creditors in the light of the peculiar facts of the case.…
Seven West-backed video service Crowdspark, formerly New Zulu, has gone into liquidation following a strategic review by the companys management. The ASX-listed user-generated content management company promised to make everyone with a smartphone a potential journalist and at one stage was endorsed by Pauline Hanson. Crowd Spark was founded as New Zulu in 2012 ADVERTISEMENT Since…
Stating that an insolvent company cannot place a bid for another insolvent company, as many as nine associations of Jaypee homebuyers representing about 5,000 people, have opposed Jaiprakash Associates (JAL) proposal to reacquire Jaypee Infratech Ltd (JIL). The counsel for homebuyers argued before the Supreme Court on July 17 that JAL does not have the financial…
Workers and students alike have been left in the lurch after a Delacombe-based training provider went into liquidation late last week. Journey Management in Delacombe was locked on Monday morning. Picture: Luka Kuazlaric Staff at Journey Management in Kennedys Drive, Delacombe were informed the company had ceased to trade at close of business on Friday, July…
UPDATE 1.50pm: The state governments education and training department spokeswoman Katie Elliott said Journey Management Group had entered into liquidation and ceased training. The department will be in contact with all Victorian Government-funded students explaining their options for further training, she said. This is a difficult time for students and we will help them complete their…
UPDATE 1.50pm: The state governments education and training department spokeswoman Katie Elliott said Journey Management Group had entered into liquidation and ceased training. The department will be in contact with all Victorian Government-funded students explaining their options for further training, she said. This is a difficult time for students and we will help them complete their…
Vehicle training company collapses, leaving workers and students in lurch Journey Management Group’s Bendigo Skills Training Centre on Monday morning. Picture: NONI HYETT Journey Management Group’s Bendigo Skills Training Centre on Monday morning. Picture: NONI HYETT Journey Management Group’s Bendigo Skills Training Centre on Monday morning. Picture: NONI HYETT Journey Management Group’s Bendigo Skills Training…
A company bidding for a stressed asset in the same sector in which it is operating will now have to get the Competition Commission of India’s (CCI’s) approval ahead of finalisation of bids during insolvency process, sources said. This is a part of the latest round of amendments proposed by the government in the Insolvency…