Discussions about debt can start before children begin school, says Rise High Financial Solutions director Marissa Schulze.

Its never too early for parents to start teaching their kids about being debt sensible, she said.

Five golden rules for paying pocket money

The cheapest ways to keep fit

When young kids see us paying with credit cards they dont realise thats money we have to pay back.

Parents could explain this to children aged between three and six, Ms Schulze said.

Board games can help educate them, too.

Ms Schulze said while Monopoly was a great game to teach children about buying assets and building wealt…

Read the full article at: https://www.news.com.au/finance/money/how-to-teach-children-about-debt-in-a-creditmad-world/news-story/8ef4a220f4016b81e1c1b8cbec61a3fe

KPMG has added leading insolvency specialist Ferrier Hodgson creating one of the largest turnaround teams in Australia.

Big Four professional services firm KPMGhas finalised a deal with Sydney-headquartered corporate turnaround and insolvency management specialists Ferrier Hodgson after months of negotiation, with the talks first reported by the Australian financial Review last November. The deal includes the Sydney, Melbourne, Brisbane and Perth offices of Ferrier Hodgson, with talks on acquiring its Adelaide affiliate also well advanced.

Established in in 1976, the more than 40-year old firm has since become one of Australias largest independent insolvency and turnaround advisors, with additional offices in Singapore and Malaysia and…

Read the full article at: https://www.consultancy.com.au/news/785/kpmg-picks-up-insolvency-and-forensics-specialist-ferrier-hodgson

Since its enactment in 2016, the Insolvency and Bankruptcy Code has been the crowning achievement of the NDA governments reform agenda. With the Finance Minister quoting recoveries of close to 3-lakh crore due to the IBC, there is little doubt that the IBC has helped dent the bad loan crisis in the country and has had some positive impact on Indias credit culture.

Key to the IBCs success has been its push towards time-bound management of distress by relying on the commercial wisdom of the creditors and other market players. The IBC relies on the committee of creditors (CoC) to ascertain if a company is viable and if its business should be carried on, within a defined period of time. The CoC must invite resolution plans, and approve of a…

Read the full article at: https://www.thehindubusinessline.com/opinion/companies-should-not-have-nine-lives/article26536261.ece

Liquidation involves finalising the financial affairs of an organisation, selling off the businesss assets to repay any debts, and dismantling the companys structure. Often confused with bankruptcy, liquidation is the only way to wind down operations and shut down an organisation in an orderly way.

Liquidation commonly occurs if a company cant meet debt obligations or if the members wish to cease operating. It applies to companies and the businesses operating under a company structure.

Bankruptcy, on the other hand, applies to individuals, including sole traders and partners in partnerships, who are declared insolvent. Bankruptcy is also an interim legal state, lasting three years, whereas liquidation leads to a permanent winding down o…

Read the full article at: https://www.accountantsdaily.com.au/columns/12763-why-business-owners-must-understand-the-liquidation-process

The Australian arm of custom toy chain Build-A-Bear Workshop will close 10 of its stores by the end of the month after entering voluntary administration on Wednesday.

Remaining stores will continue to trade as normal as the retailer considers its options moving forward.

Build-A-Bear Australia chief executive Gavin Port said the business has been working to combat challenges faced during the year, including increased operating costs, wages and rent, and reduced shopping centre foot traffic, and that the administrative process was intended to restructure the retail footprint for a more sustainable, long-term future.

We have an incredibly dedicated team, and have established a brand that resonates with consumers of all ages, Port said.

…

Read the full article at: https://www.insideretail.com.au/news/build-a-bear-australia-enters-voluntary-administration-201903

Interserve could go into administration on Friday as the outsourcing group fights to win support for a restructuring plan before a crunch vote.

Shareholders will give their verdict at an emergency meeting on Friday on a proposal put forward by banks and hedge funds, which have offered to forego 485m of the companys 631m debt in return for most of its equity, leaving existing investors with just 5% of the shares.

The Reading-based Interserve employs nearly 45,000 people in the UK and manages a host of public services. It is the largest provider of probation and offender rehabilitation services in England and Wales, and has thousands of government contracts that range from hospital cleaning and school meals provision to maintaining milita…

Read the full article at: https://www.theguardian.com/business/2019/mar/14/interserve-shareholders-vote-restructuring-plan-emergency-meeting

Read the full article at: https://www.sporttechie.com/dazn-advertisement-sports-platform-streaming-revenue/

Executive Summary

The ability to get issues on the table and work through them constructively is critical to having a healthy culture. Managers can normalize productive conflict on your team by using an exercise to map out the unique value of each role and the tensions that should exist among them. Draw a circle and divide that circle into enough wedges to represent each role on your team. For each role, ask: What is the unique value of this role on this team? On which stakeholders is this role focused? What is the most common tension this role puts on team discussions? Answer those questions for each member of the team, filling in the wedges with the answers. As you go, emphasize how the different roles are supposed to be i…

Read the full article at: https://hbr.org/2019/03/an-exercise-to-help-your-team-feel-more-comfortable-with-conflict

(Reuters) – Pier 1 Imports Inc has tapped debt restructuring lawyers to navigate potential negotiations with lenders as it struggles with falling sales, people familiar with the matter said on Thursday, sending shares of the U.S. home furnishing retail chain sharply lower.

Known for selling wicker chairs and scented candles, Pier 1 has suffered financial losses amid an increasingly competitive retail landscape dominated by the likes of Amazon.com Inc and Walmart Inc.

Pier 1, which has roughly 987 stores in the United States and Canada, has added debt restructuring specialists at Kirkland & Ellis LLP to a roster of advisers coun…

Read the full article at: https://www.reuters.com/article/us-pier-1-imports-debtrestructuring-excl/exclusive-retailer-pier-1-taps-debt-restructuring-lawyers-sources-idUSKCN1QV2C6?feedType=RSS&feedName=newsOne

PARIS (Reuters) – French retailer Casino, battling investor concerns over its high debt, vowed to boost profits and cash flow in its core French market and sell off more assets under a three-year strategy plan.

Investors initially welcomed the plan before some concerns over Casinos cash flow weighed on Casinos shares.

Along with domestic peers such as Carrefour and Auchan, Casino faces intense price competition in its home market as well as challenges from online players such as Amazon.

The company, which had its credit rating cut to junk by Standard & Poors in March 2016, has embarked upon asset sales to reduce its d…

Read the full article at: https://www.reuters.com/article/us-casino-results/casino-to-pursue-asset-sales-to-help-cut-debt-idUSKCN1QV0M9

And experts warned that these difficulties come as care homes still struggle with debts from before the credit crunch.

As a result, 101 care homes were declared insolvent in 2018.

Analysts from the accountancy and business advisory firm BDO LLP, which conducted the research, warned that the sector is continuing to suffer from trading difficulties which have been dogging it for almost a decade.

Recent increases in interest rates have also started to ratchet up costs.

Insolvencies in the care home sector has also suffered as a result of the reduced spending by central government.

Payments from local authorities remain the main source of care home fees.

But separate research by the Association of Directors of Adult Social Services revealed that l…

Read the full article at: https://www.express.co.uk/news/uk/1100058/care-home-crisis-funds-cut-rise-in-costs-marie-curie-elderly-health

The Australian arm of Build-A-Bear Workshops has been placed into voluntary administration with ten locations around Australia to close almost immediately.

The much-loved venue gives kids the chance to customise their own toy, and are often used for childrens parties.

The company has 30 stores and other retail outlets around Australia but ten of those will close within the next two weeks.

The stores to close are

Westfield Miranda, NSW

Stockland Greenhills, NSW

Westfield Marion, SA

Logan Hyperdome, QLD

Kawana Shoppingworld, QLD

Mt Ommaney, QLD

Pacific Werribee, VIC

Eastland Shopping Centre, VIC

Garden City, WA

Westfield Carousel, WA

The remaining stores will continue to operate normally, pay staff, and honour gift…

Read the full article at: http://www.kiis1011.com.au/newsroom/build-a-bear-closing-stores-voluntary-administration