Category Archives: Liquidation

Sara Lee goes into voluntary administration in Australia with FTI Consulting appointed as voluntary administrators – ABC News

After 50 years of manufacturing frozen cheesecakes, pies, crumbles and ice cream in Australia, Sara Lee Holdings has gone into voluntary administration. Key points: Vaughan Strawbridge, Kathryn Evans and Joseph Hansell of FTI Consulting have been appointed as voluntary administrators The administrators are seeking to restructure or sell the business while its operations continue  Sara Lee was…

Sara Lee: Aussie dessert icon plunges into voluntary administration – Yahoo Finance Australia

Australian dessert staple Sara Lee has joined many other struggling local businesses, entering voluntary administration after 52 years in business. The iconic brand was bought from McCain Foods for an estimated $95 million in 2021 by New Zealand equity firm private equity firm South Island Office, which have appointed administrators Vaughan Strawbridge, Kathryn Evans and…

Aussie dessert icon Sara Lee enters voluntary administration after more than 50 years – 7NEWS

Australian dessert icon, Sara Lee, known for its frozen cheesecakes, pies, puddings, and crumbles, entered voluntary administration on Tuesday. The brand hopes to restructure and sell off the company while continuing operations. Vaughan Strawbridge, Kathryn Evans and Joseph Hansell from FTI Consulting were appointed as voluntary administrators on October 17. Catch the best deals and…

Beloved dessert company Sara Lee goes into administration | news … – news.com.au

Beloved dessert company Sara Lee, known for its frozen cheesecakes, apples pies and ice cream, has gone into voluntary administration. The Australian-arm of the US-based corporation has been trading since 1971, with the brand operating from Lisarow on NSWs Central Coast. Administrators Vaughan Strawbridge, Kathryn Evans and Joseph Hansell of FTI Consulting say business operations…

The worrying rise in corporate busts – The Australian Financial Review

Opinion More businesses are looking down the barrel of insolvency, as an economic slowdown crimps sales and squeezes profit margins while borrowing costs soar. Karen MaleyColumnist Oct 17, 2023 5.50pm Companies are collapsing at the fastest clip in years, as soaring interest rates push their borrowing costs sharply higher, while slowing economic activity is causing…

Police charge woman with defrauding regional WA community centre – ABC News

A woman from Western Australia’s Wheatbelt region has been charged with misappropriating funds from a small town’s community resource centre. Key points: Former employee Robyn Garratt has been charged with defrauding the York Community Resource Centre The centre went into voluntary administration in July, citing financial troubles The Shire of York seeks to buy the CRC from creditors…

Aussie builders collapse left, right and centre – MacroBusiness

Hopes of meeting the Albanese Governments plan of building 1.2 million homes over five years have taken another hit with the latest corporate insolvency data from the Australian Securities and Investments Commission: Overall corporate insolvencies hit their highest level since 2015 in August, with construction insolvencies the stand-out: This surge in construction company insolvencies reflects…

Partisan conflicts in Assembly result in failure to pass extension bill … –

Financial Services Commission Chairman Kim Joo-hyun speaks during an audit session at the National Assembly in Seoul, Oct. 11. Yonhap Voluntary agreement between creditors and corporations to take effect within this month By Anna J. Park As the country’s five-year-limited law on corporate debt restructuring or workout expired on Monday, the Financial Services Commission (FSC),…

Accountants 'should act early on tax debt red flags' – AccountantsDaily

An ATO warning about tax debt should be a red flag to any accountant that the business needs to talk to an insolvency specialist before the situation becomes irretrievable, say two specialists in the field. The earlier a warning flare went up, the more options were available to the business owner, said Jirsch Sutherland national…

RCAP acquisition: IRDAI rejection raises questions for Hinduja-led IIHL on funds' source | Mint – Mint

The Reserve Bank of India-appointed Administrator of debt-ridden Reliance Capital (RCAP) on 15 October wrote a letter to Hinduja Group firm IndusInd International Holdings Ltd (IIHL). It raised questions on the source of funds and business plan, reported news agency PTI citing sources. In the letter to IIHL, the Administrator has asked the successful resolution…