Major Aussie retailer Ally Fashion sees 51 stores closed

A major Australian fashion chain has had 51 stores shut down immediately after it was ordered into liquidation by the Federal Court. Ally Fashion is an Australian-owned fast fashion retailer that was founded in 2001, which described itself as “dedicated to creating contemporary ready-to-wear pieces for every woman”. As a result of the store closures,…

Company behind Juicy Fest placed into voluntary liquidation

Photo: Unsplash / Joey Thompson The company behind Juicy Fest has been placed into voluntary liquidation. 1News reported Juicy Festival Limited, Timeless Events New Zealand and Timeless Events Australia Limited were placed into liquidation at 5pm, with Blacklock Rose’s Ben Francis and Garry Whimp appointed as liquidators. Juicy Fest had cancelled the New Zealand leg…

Whyalla steelworks bleeding $1.5m a day

Whyalla steelworks was losing $1.5 million a day before being put into voluntary administration and owes creditors $1.34 billion, including $570 million to entities owned by British industrialist Sanjeev Gupta, which administrators have flagged as a disputed claim. The steelworks in South Australia was plunged into voluntary administration two weeks ago owing employee entitlements of…

Next steps for Brindabella: administrators to comb through books, new board may be price of government support

The Brindabella Christian College administration could be a drawn-out process, but it offered the best opportunity to put the school back on its feet. Photo: Michelle Kroll Brindabella Christian College parents, staff and students face an anxious wait over the next month before the school’s financial situation becomes clearer but the Deloitte administrators goal will…