Pioneer Channel Factory files for its own insolvency

Pioneer Channel Factory, a Mumbai-based company, has filed for the initiation of its Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The National Company Law Tribunal (NCLT), Mumbai Bench, has admitted the petition and ordered the commencement of the CIRP. Background of the case Pioneer Channel Factory…

Ally Fashion faces liquidation amid landlord dispute

The Federal Court of Australia has forced Australian retailer Ally Fashion into liquidation following an application by a landlord for rent arrears.  The court appointed Jeff Marsden and Duncan Clubb of BDO Australia on February 28, 2025. Ally Fashion is an Australian-owned female fast fashion retailer that was founded in 2001, with 160 stores across…

Scottish business insolvencies fell by 2.4% in Q3

Business insolvency numbers (liquidations and receiverships) in Scotland for Q3 2024-2025 decreased by 2.4% compared with Q3 2023-2024, to a total of 285 according to latest Accountant in Bankruptcy data. Business insolvencies (liquidations and receiverships) decreased by 8.9% when compared with the previous quarter’s total of 313 (July-September 2024). Commenting on the Scottish insolvency statistics,…