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Owners at Billson’s Brewery have announced the business has been put into voluntary administration.
A statement cited “mistakes” relating to systems and processes “keeping up” with the business in the decision.
What’s next?
The brewery will remain open and the supply of Billson’s drinks to bottle shops and pubs across the country will continue.
The owners of the historic 159-year-old Billson’s Brewery in Beechworth have announced the company has been put into voluntary administration.
In a statement on Wednesday, owners Nathan and Felicity Cowan announced the move, discussing “several mistakes” which had put the company’s systems and processes under pressure.
“Over the course of seven years, everyone’s hard work and passion has…
MGM Resorts International has denied reports that Bruno Mars has a US$50 million (S$67 million) gambling debt with its casino.
In a statement to American entertainment publication Variety, MGM Resorts said the allegations of Mars’ debt are false.
“We’re proud of our relationship with Bruno Mars, one of the world’s most thrilling and dynamic performers,” wrote MGM Resorts in the press statement.
“From his shows at Dolby Live at Park MGM to the new Pinky Ring lounge at Bellagio, Bruno’s brand of entertainment attracts visitors from around the globe. MGM and Bruno’s partnership is longstanding and rooted in mutual respect. Any speculation otherwise is completely false; he has no debt with MGM. Together, we are excited to…
International bus and coach manufacturing giant Van Hool is hoping for a “rapid restart” after reaching a binding offer with other brands to rescue it from bankruptcy.
On April 8, Van Hool was declared bankrupt, with the major global manufacturer facing permanent closure.
Now, a board of four curators, including coach and bus group VDL Groep and GRW, a partner company of trailer brand Schmitz Cargobull, have offered to acquire the brand and restart it.
The curators discussed and accepted a binding officer from the Dutch VDL Groep and South Africa-based GRW to take over the company.
Van Hool representatives say other binds were presented to the board of curators in recent days, but weren’t accepted.
While America’s economy continues to defy the odds, with stronger-than-anticipated inflation, employment and spending, Australia’s economy is labouring under the growing weight of the past two years of rate hikes.
Over the weekend, the Government has proposed two important changes for tertiary students and graduates.
The HECS-HELP scheme would be indexed to the lower option of the Consumer Price Index or the Wage Price Index, and that change will be backdated a year, which will save students and graduates hundreds or thousands of dollars.
Additionally, students studying nursing, teaching, midwifery, and social work will now be paid $319.50 a week during their placements; work that has previously been completely unpaid.
But are these measures enough to stop the ‘debt spiral’ that some students are describing? And will they attract new students to degrees that have previously seemed unaffordable?
Merlino said patronage at his other venues – Kittyhawk, Big Poppa’s and The Lobo – remained at similar levels to last year, but people were spending less.
However, he said the cost of energy and insurance was “through the roof”, while wages, food and alcohol continued to rise.
“I think there is trepidation with winter coming if these costs keep going up, and spending continues to fall,” he said. “It’s definitely not as easy as it once was and margins are getting smaller.”
However, Merlino said venues were increasingly offering happy hours and discount offers in a bid to attract customers.
“If we want people to come out two or three nights a week, we can’t expect them to spend $120 plus each night,” he said. “We…
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n recent weeks, we have been alerted to a string of gambling-related suicides and other forms of deep distress resulting from the illegal practice, including the case of a woman who set fire to her own husband for gambling away their fortune.
Eko Damara, a first lieutenant with the Indonesian Navy, reportedly…
Zhongzhi lent billions to China’s crisis-hit property developers
A major Chinese shadow bank has filed for bankruptcy on the grounds it was unable to pay its debts.
On Friday, a Beijing court accepted the application from Zhongzhi Enterprise Group (ZEG), which has lent billions to real estate firms.
Chinese officials launched an investigation into “suspected illegal crimes” against the firm in November.
It followed reports that ZEG had declared it was insolvent.
The struggling group reportedly told investors in a letter in November that its liabilities – up to $64bn (£50.6bn) – had outstripped its assets, now estimated at about $38bn.
On Friday, a Beijing court published a statement on the social media network WeChat saying…
The Transport Workers Union says administrators of Rex Airlines expect up to 610 jobs to be axed after the carrier entered into voluntary administration.
Its fleet of Boeing 737 jets, which provide services between the major capital city airports, have all been grounded.
Rex’s regional services will continue to operate.
A statement posted to the Rex website late on Tuesday said Regional Express Holdings Limited and a number of its subsidiaries under the Rex Group had entered voluntary administration, with EY appointed as administrators.
It said Rex and Virgin were exploring opportunities to support regional customers, including Virgin Australia selling Rex’s regional services.
The statement also said regional Saab 340 flights were continuing…
More than three million Australians, including thousands of students throughout the Hunter, are expected to have their HECS debt slashed in this month’s budget, to the tune of a collective $3 billion.
This move is designed to reduce cost-of-living pressures, as well as the hesitation of young people to enter higher education.
Every June HECS debts are subjected to percentage point changes, making sure the amount owed keeps up with inflation.
For more than three decades indexation was calculated on the Consumer Price Index (CPI), which is now at historic highs.
The Australian Government will cap the higher education HELP indexation rate at the lower of either the Consumer Price Index (CPI) or the Wage Price Index…
Express Inc., the clothing retailer that’s a staple in US malls, filed for bankruptcy with plans to sell itself.
The company received an offer from brand manager WHP Global and mall landlords Simon Property Group Inc. and Brookfield Properties to purchase the company’s operations and most of its stores, according to a statement on Monday. The company will use the bankruptcy process to facilitate the sale.
