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Facebook App: Open links in External Browser
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REVEALED: Latest business liquidations in Vincent dailytelegraph.com.au
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REVEALED: Latest business liquidations in Scenic Rim couriermail.com.au
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Derrimut 24:7 Gym founder Nikolaos Solomos has placed the largest company in his struggling fitness empire into administration, days after billionaire Adrian Portelli withdrew from a rescue deal.
In a message to staff on Thursday, November 6, Solomos said the decision was “not made lightly” but was a “proactive step to restructure, protect jobs, and position the business for a stronger future.”
He assured employees they would continue to be paid weekly and that all 26 gym locations would remain open.
The chain is estimated to owe nearly $30 million, with debts to the Australian Tax Office, landlords, suppliers and other creditors.
The ATO has been pursuing $15.4 million in unpaid taxes, superannuation and…
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The UK’s Really Local Group, the company behind five London community cinemas Catford Mews, Reading Biscuit Factory, Ealing Project, Sidcup Storyteller and Throwley Yard Sutton, has entered liquidation.
Really Local Group venues aimed to transform derelict retail units and abandoned spaces into multi-use community spaces, combining cinema, live performance and café-bars.
The company’s first venue, south London’s Catford Mews, opened in 2019. It was closed by Lewisham Council on October 29, with the council claiming the group had run up arrears of over £650,000 since 2019 and accusing the company of failing to pay its bills.
Sutton venue Throwley Yard was shut down by the council this month, around a year after…
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Domestic debt restructuring
A large and growing share of domestic-law public debt within the sovereign liabilities of many low- and middle-income countries in recent years has attracted much-needed attention to the topic. Starting from Reinhart and Rogoff (2008), who brought issues related to the scale and scope of domestic debt1 to the forefront of economics profession, Erce, Mallucci, and Picarelli (2022) demonstrated that domestic debt defaults and restructurings have been a rather common phenomenon in recent decades, while IMF (2021) and Grigorian (2023) highlighted the range of design and implementation issues needed to be explicitly factored in for a restructuring of domestic debts to succeed and provided a framework for…
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Key Takeaways
- The average American had just over $105,000 in total debt as of the third quarter of 2024, according to last data release from Experian.
- Knowing how much you owe compared with others can give you a relative sense of your financial health.
If you’re wondering whether your debt is out of line with the average American, seeing if you’re above or below the benchmark of $100,000 in total debt is a good start.
As of the third quarter of 2024, the average American had about $105,056 in total debt, up 0.8% from the same time a year prior. The amount of outstanding debt in the country stood at $17.57 trillion, itself up 2.4% year-over-year, according to credit bureau Experian. Average loan payments as of the first quarter of…
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New On The Block
- Miyoko Schinner — the chef and activist who pioneered artisanal vegan cheese — is mounting a bid to buy back Miyoko’s, the plant-based dairy brand she founded in 2014 and was ousted from three years ago. After raising more than $70 million and helping bring cashew-based butter and cheese to grocery shelves nationwide, Miyoko’s has hit financial trouble. The California company is up for sale. Now Schinner is assembling a values-aligned team to rescue the company she built. “I believe I’m the best person to be the face of the brand,” she told AgFunderNews.
- It’s been a turbulent journey for both founder and firm. Schinner’s 2022 departure sparked dueling lawsuits with the board, which were later settled through…
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