The company posted it had appointed Keith Crawford, Matthew Caddy and Damien Pasfield from McGrathNicol to oversee a potential restructure or sale of the business.

“The Administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are explored,” the statement released on the ASX reported.

“The shares of Booktopia Group Limited (Administrators appointed) will remain suspended from trading during the administration process. Shareholder updates will be uploaded to the ASX platform as required.”

The statement called on interested parties…

Amy Jolliffe’s desperation at her ballooning HECS-HELP debt of $64,000, more than twice the average of $26,494, is emblematic of the growing helplessness felt by many graduates years after they’ve left university.

High inflation has meant the annual indexation — 7.1 per cent last year — is growing their debt faster than they can pay it off.

Government statistics on HECS-HELP debts show balances as large as Amy’s were once a statistical anomaly.

In the five financial years from 2006 through to 2010, government statistics recorded no debtors listed as having debts in the range of $60,000 to $70,000. 

At this time, the highest HECS debts were in the $40,000 to $50,000 range and even these were relatively rare.

Price was married to Australian singer Peter Andre between 2005 and 2009 and they have two children together.

The UK glamour model, 45, who was not in court to hear her fate, has an unpaid tax bill worth more than £750,000 ($1.47 million).

She was previously declared bankrupt in November 2019, with debts of $6.21m.

Price did not even send a lawyer to the hearing, which is the latest in a long string regarding her financial woes, reported The Sun.

She now faces losing her $3.88 million home in Sussex, south of London, dubbed “Mucky Mansion” – or could see bailiffs come round to repossess anything that could help pay back the…

Victorian-based business Abacus Print and Display, trading as Abacus Visual, will be wound up following the appointment of a liquidator this week.

In a statement on its website, Abacus said: “We are authentic – no one likes a fake and they can spot them. Be true to yourself and who you are.”

According to company’s website, Clayton-based Abacus described itself as an unusual business that specialised in signage, print, design, wrap, and installation.

“We’re a different bunch of cats over here and we’re proud of it. If we were a box of chocolates, we’d be a bunch of variety mix. Not one appears the same, you need the pack to work out which is which.

“We’ve evolved over the years from a…

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Air Vanuatu has entered voluntary liquidation and authorities are unable to say when flights will resume, leaving Australian travellers and ni-Vanuatu people stranded across the two countries.

Ernst & Young confirmed it took control of the airline after the Vanuatu government appointed it as voluntary liquidator of the company.

Air Vanuatu said on Thursday afternoon all international flights until Sunday were…

Almost six million Australians are struggling to make loan and debt repayments, but many are too ashamed to ask for help.

The latest research released by the Moneysmart website, which is run by the Australian Securities and Investments Commission, found 47 per cent of adults with debt, the equivalent of 5.8 million people, have struggled to pay the bills in the past 12 months.

Cost of living pressures, reduced income and unexpected expenses were the main reasons.

However, four in 10 of those people were too ashamed or embarrassed to reach out for help, with many feeling like a failure.

People said they would rather sell their belongings and assets or get a second job before applying for financial hardship…

Donald Trump’s defamation case brought by E. Jean Carroll could drive him to bankruptcy, attorneys have told Newsweek, particularly when combined with potential damages from his civil fraud trial.

A second defamation trial brought against the former president and GOP frontrunner by Carroll started last week. In May 2023, the journalist was awarded $5 million in damages after a jury found Trump liable for sexually abusing and defaming the former Elle columnist. The former president has denied sexually assaulting Carroll at the Bergdorf Goodman department store in New York in the 1990s.

Carroll’s lawyers are seeking another $10 million in compensatory damages and “substantially more” after the former president continued to deny the…

Bruno Mars is reportedly crumbling under pressure to pay off a hefty debt of $50 million that he made whilst gambling.

The musician, who announced his multi-year residency with MGM Resorts International in 2016 in Las Vegas, racked up large debts at the table, per an insider cited by News Nation.

“He owes millions to the MGM (from gambling),” the source told the outlet. “(MGM) basically own him.”

The insider added, “He makes $90 million a year off of the deal he did with the casino, but then he has to pay back his debt… after taxes (Mars makes $1.5 million per night).”

After tax deduction, Mars is left with a sum of around $60 million.

Back in 2016, the…