Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
The Star Casino is still in a trading halt as the embattled company negotiates a financial lifeline. (Dan Himbrechts/AAP PHOTOS)
Star Entertainment has failed to secure a $940 million lifeline to cover its eye-watering debts, throwing the future of the casino operator and 9000 jobs into question.
The Star announced in March it had entered into an exclusivity and process deed with property development fund Salter Brothers Capital for the deal, which had “sufficient liquidity” to cover the group’s arrears.
“The Star has continued to work diligently with Salter Brothers Capital in relation to the Refinancing Proposal,” the company said in an ASX announcement on Wednesday.
“But (it) has not received a binding debt commitment letter…
Hydrogen truck and zero-emission transport manufacturer Quantron has risen from the ashes of insolvency and is once again trading under a refocused strategy.
A holding company belonging to Quantron CEO Andreas Haller has been named as the purchaser. Quantron had initially been founded in July 2019 as a spin-off company of Haller GmbH & Co. KG.
A seven-figure investment sum was initially floated as needed to save Quantron when it entered bankruptcy proceedings.
“After challenging months, we are moving forward with fresh energy and a clear vision,” the company…
The Dutch branch of women’s fashion chain Gerry Weber has filed for a suspension of payment, after its German parent company was declared insolvent. Both companies’ future looks markedly uncertain.
Financial problems seep through
The chain’s Dutch branch hopes that a suspension of payment would clear the way for a possible restart, Dutch newspaper FD reports. The branch currently has 38 stores, which will remain open for the time being as administrator Marc van Zanten already sees international interest for the…
Bax Music, a prominent online retailer of musical instruments and equipment, has been declared bankrupt by the Zeeland-West-Brabant court on April 1, 2025. This decision follows the company’s request for a suspension of payments made just a week prior, a common precursor to bankruptcy. The firm has faced significant financial difficulties in recent years, accumulating debts to various creditors, including the Dutch Tax Authority.
Founded in 2003, Bax Music grew to become one of Europe’s largest online music retailers, boasting a robust online presence alongside six physical stores located in the Netherlands and Belgium. The company employed over 300 staff members, contributing to its status as a key player in the…
Hooters, a restaurant chain most famous for its all-female staff serving wings in skimpy clothing, is filing for bankruptcy, the company announced on Monday.
Hooters of America is filing for Chapter 11 bankruptcy in Texas after accumulating $376 million in debt, and through the bankruptcy process, plans to sell off all 100 of its company-owned restaurants to two franchisee groups that operate Hooters locations in Tampa, Florida, in an effort to keep the chain afloat.
“Today’s announcement marks an important milestone in our efforts to reinforce Hooters’ financial foundation and continue delivering the guest-obsessed hospitality experience and delicious food our customers and communities have come to expect,” said Sal Melilli,…
Gary Glitter has been made bankrupt for failing to pay damages to abuse victim.
Picture:
Alamy
Gary Glitter has been made bankrupt after failing to pay more than £500,000 in damages to one of his victims, her lawyers have said.
The woman sued Glitter, real name Paul Gadd, following his 2015 conviction for abusing her when she was 12, as well as two other young people between 1975 and 1980.
The six-figure sum included £381,000 in lost earnings and £7,800 for future therapy and treatment.
Glitter is behind bars after being jailed for sexually abusing three schoolgirls.
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