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The federal government will guarantee Rex flight bookings for existing and future customers as the budget carrier undergoes voluntary administration.Regional
Premier Kings, a 172-unit Burger King franchisee, declared bankruptcy in late October after the death of its owner created operational instability. It’s the third Burger King franchisee to enter court proceedings this year.
The company was founded in 2009 by Manraj Sidhu. He started with six stores in the Birmingham, Alabama, market and expanded in 2014 with 34 more units throughout Alabama, Georgia, and Tennessee. From 2015 to 2021, 100-plus restaurants entered the portfolio in Tennessee, Florida, and South Carolina. Premier Kings earned $233.3 million and $255 million in sales in 2021 and 2020, respectively.
Sidhu passed away unexpectedly in May 2022, which put Premier Kings in a difficult position as he was the sole…
Higher-than-expected inflation figures released today aren’t just bad news for home- and business owners banking on an early interest rate cut; they’re concerning for the more than 2.9 million Australians with student debt.
The consumer price index (CPI) determines how much HECS-HELP and all other student debt increase under the annual indexation that takes place on June 1.
While the Australian Taxation Office is yet to complete its calculations for this year, today’s inflation data means the indexation rate is likely to be around 4.7-4.8 per cent – the second-highest figure since 1990, behind only last year’s 7.1 per cent.
Students will see their debt increase by about 4.75 per cent on June 1. (Louie Douvis/AFR)
Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labor costs and a disastrous unlimited shrimp promotion.
The Orlando, Florida-based company filed for Chapter 11 protection on Sunday, listing assets and liabilities of $1 billion to $10 billion each in its bankruptcy petition. The filing allows the company to keep operating while it works out a plan to repay creditors.
There is cause for optimism. Inflation is falling and the beginnings of a global economic recovery is expected next year. But first, companies in the UK and beyond must survive some significant challenges:
Looming profitability squeeze: While a global and UK recovery is in sight for 2025 (we expect 2025 GDP to grow by 1.5% in the UK and 2.8% globally), firms will first have to manage the deceleration in global demand. Profitability will be under pressure as companies juggle below-trend GDP growth at a time of still-high operating costs, with elevated energy prices, continuing wage growth and lingering supply-chain pressures.
Geopolitical uncertainty: Amid conflicts in Ukraine and the Middle East, the packed election…
March Madness is kicking into high gear this week, and concern over problem gambling is also top of mind. More Americans are betting on sports than ever before, since the legalization of online sports betting in nearly 40 states.
U.S. adults are expected to make nearly $3 billion in legal bets on NCAA basketball games this year, according to the American Gaming Association. That’s nearly double the amount bet legally on the Super Bowl just a month ago in February.
One expert told Spotlight on America National Investigative Correspondent Angie Moreschi that gambling addiction is “a ticking time bomb for society.”
Chasing the Winner’s High
From casinos to lotteries to horse racing, Americans have long chased the odds of winning on a…
The big four banks are on the verge of intervening in the business of transporting money to avoid a crisis in getting cash to banks, businesses and customers.
Armaguard Australia is struggling to stay afloat despite a merger with its biggest rival mid-last year because the plummeting use of cash is making it unprofitable to deliver it…
Digital marketing agency No Standing has gone into voluntary liquidation, leaving 17 staff without jobs and with pay owing, according to documents lodged with corporate regulator ASIC.
Daniel Juratowitch of Cor Cordis has been appointed liquidator for the full service Melbourne-based agency founded in 2016. He estimates the company owes more than $2.5 million.
A company with a similar name, No Standing International Pty Ltd, was formed on March 20. A winding up motion for the original company, No Standing, was passed on May 1 and Juratowitch appointed.
Staff, who did not want to be named, said they were told that new employment contracts were coming for No Standing International but these had so far not…
The average student loan will increase by more than $1,200 this year amid calls for the federal government to fix what critics say is a “broken system”.
Higher Education Loan Program Debt (HELP) debts, such as HECS-HELP, increase each year under indexation. This is calculated after the publication of the March quarter inflation data, which was released on Wednesday.
Australian Taxation Office has not officially confirmed what this year’s indexation figure will be, but crossbench MPs say it will come in at 4.8 per cent if the formula used in previous years is followed.
It would be the second-highest indexation increase in a decade, behind a rise of 7.1 per cent in 2023.
A 4.8 per cent increase would add $1,272 to the average HELP debt of…
Miss Universe’s Thai owner is seeking a debt rescue.
Media distribution company JKN Global Group has filed for bankruptcy, CEO Jakkaphong Jakrajutatip announced in a letter to shareholders yesterday (Nov. 9). The petition for business rehabilitation was filed the day prior, it said.
M&M maker Mars is acquiring Pop-Tarts maker Kellanova in one of the biggest deals of the year
It’ll be business as usual while steps are taken to “solve the company’s liquidity problem under legal mechanism and provide fair protection to all stakeholders,” Jakrajutatip wrote. That means the competition in El Salvador on Nov. 18 will go on. A notice on JKN’s website confirms the news and reaffirms that “the legacy of Miss Universe will be carried…
The federal government will guarantee Rex flight bookings for existing and future customers as the budget carrier undergoes voluntary administration.
Regional flights have continued while a buyer or financial lifeline is sought for Rex.
The federal government will guarantee Rex flight bookings for customers as the budget carrier undergoes voluntary administration. (Getty)
Minister for Infrastructure, Transport and Regional Development Catherine King today guaranteed that Rex customers can continue to book flights and claim refunds.
King said her department is working closely with administrators throughout the regional airline’s administration
“We also expect the administrator to honour and prioritise the entitlements of Rex…
