DSL a debt recovery company which specialises in veterinary debt, has launched a free tool to help practices understand the impact of bad debt on the business. 

The VetDebt Recovery Compass tool provides a way for practices to understand how outstanding payments affect their cash flow and practice value, and what steps to take next. 

Mike Brooks, Chairman at DSL UK (pictured), said: “The VetDebt Recovery Compass offers a quick and easy way to see the true financial impact of unpaid debt.

“By making this information free and accessible to everyone, we hope to empower veterinary teams to take control of their finances.

DSL says that the new tool, which is available at www.dsluk.net, allows practices to see both the immediate…

The Real Estate Institute of Queensland (REIQ) is welcoming the Federal Treasurer’s move to improve access to home loans for young Australians with student debt and finance for small developers falling short of a perfect, 100 per cent pre-sales uptake.

REIQ CEO Antonia Mercorella welcomed the new APRA/ASIC guidance which would exclude HECS/HELP debts from bank’s mortgage serviceability assessments in certain circumstances, while still maintaining strict responsible lending protections.

“We support this reform which will boost the borrowing capacity of Australians with student loan debt and trust that it will aid first home buyers in taking that crucial first step onto the property ladder,” Ms Mercorella said.

“This change…

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Feb. 17, 2025

A bankruptcy judge last week approved Joann Inc.’s plan to begin closing 500 of its 800 stores, including one in Brookings.

The 500 stores were deemed as “underperforming” by the crafts and fabric retailer and its advisers, according to court filings. The goal of the Ohio-based company, which filed for Chapter 11 bankruptcy Jan. 15 in Delaware, is to make the business more appealing to a new owner.

“Right-sizing the store footprint is a critical part of the efforts to ensure the best path forward for Joann,” the company said.

Joann is seeking bids by Tuesday for an auction that would occur Feb. 21 if there are multiple bids. Liquidator Golden Brothers Retail Partners is serving as the “stalking horse”…

Joann, a major retailer of fabrics and crafts, said in a bankruptcy filing on Wednesday that it intends to close 500 locations and begin going-out-of-business sales.

The retailer currently has 800 locations. When it initially filed for bankruptcy in 2024, it said it did not intend to close any locations. The company said at the time that it would also preserve the jobs of its 18,000 associates through bankruptcy.

In March 2024, Joann announced that it would file for Chapter 11 and obtain approximately $132 million in new financing. The retailer hoped to reduce its debt by $505 million during bankruptcy.

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The company then filed for bankruptcy again in January, this…

Former glamour model Katie Price is to have one of her two bankruptcies discharged following a hearing at a specialist court in London. The 46-year-old was due to face questions over her finances on Tuesday at a hearing known as a public examination after first being declared bankrupt in 2019.

Bankruptcy orders typically end after a year in England and Wales, but the automatic discharge of Price’s first bankruptcy was suspended, meaning she was still bound by its terms. The suspension was lifted by Insolvency and Companies Court Judge Sebastian Prentis on Tuesday, backdated to late last year, meaning the first bankruptcy will now be discharged.

Barrister Darragh Connell, representing the trustee of Price’s bankruptcies, said: “The…

US debt management firm Oaktree Capital Management is looming as a potential last-minute savior for troubled Australian casino operator Star Entertainment Group after putting forward a debt financing proposal to lenders.

Star revealed in a Monday morning ASX filing that the proposal from funds associated with Oaktree – which previously expressed interest in cutting a deal with Crown Resorts before Blackstone’s acquisition in 2022 – includes a commitment letter and term sheet which set out terms upon which Oaktree would be willing to provide a total of AU$650 million in two debt facilities with a term of five years.

Although the proposal is…