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Australia is experiencing a sharp rise in business insolvencies, driven by cash-flow stress. More than 11,000 businesses entered external administration
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Australia is experiencing a sharp rise in business insolvencies, driven by cash-flow stress. More than 11,000 businesses entered external administration in FY 2023-24, a 39 per cent increase from the previous year and the highest number on record. By mid June 2025, the total number of insolvencies had reached 14,105.
This surge is hitting small businesses hardest. According to Asic, 68 per cent of companies that failed owed under $1 million to their creditors. In the hospitality sector alone, almost one in 10 businesses closed in the past year, with payment delays and rising tax debt creating unsustainable pressure.
The underlying issue? Cash flow. The Reserve Bank of Australia notes that insolvencies have surged largely due to…
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Despite tens of millions of revenue, a $230,000 ransomware fee has seemingly taken out one of Germany’s leading insurance firms.
As reported by Wa.de and Golem.de (via our friends at Tom’s Hardware), Einhaus Group was originally targeted back in 2023. Hacking group Royal reportedly told Einhaus Group founder Wilhelm Einhaus, “We’ve hacked you. All further information can be found on the dark web.”
After the hack, no computers or servers could boot, and all systems had been encrypted, including access to contracts, billing, and any stored communication. Royal reportedly asked for €200,000 (around $230,000) to get back access to the company’s computers.
The $230,000 was to be deposited in Bitcoin. Though Bitcoin is…
People walk by a Claire’s store on December 11, 2024 in San Rafael, California.
Justin Sullivan | Getty Images
Tween retailer Claire’s filed for bankruptcy protection for the second time in seven years on Wednesday in the hopes it can reorganize its business and stave off liquidation.
The mall-based boutique, long known for its ear piercing services and eclectic mix of jewelry and accessories, is staring down about $500 million in debt, rising competition and an evolving retail landscape that’s made it harder than ever to grow a business profitably.
“This decision is difficult, but a necessary one. Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current…
Under the provision of the Insolvency and Bankruptcy Code (IBC), an approval from the competition watchdog is a key requirement for submission of resolution plan to participate in the bidding process.
Besides Dalmia Bharat, several other players that have shown their interest to acquire the debt ridden JAL, which operates from cement to real estate, hospitality to fertiliser plant.
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A popular Melbourne eatery has been forced into voluntary administration.
An award-winning Melbourne restaurant which began as a delivery service during lockdown has gone bust.
1800 Lasagne graduated to a physical store in August 2020, winning a cult following, awards, and the patronage of Jamie Oliver in the inner-north suburb of Thornbury.
But external administrators have now been called in, and the business may be wound up, sold, or picked apart by people owed money.
“1800 Lasagne has entered into voluntary administration and we are working closely with the administration team to streamline and restructure our model to ensure we take the best steps while moving forward,” owner Joey Kellock posted online on…
A Melbourne restaurant which started as a COVID-19 lockdown favourite has fallen on hard times.
1800 Lasagne entered voluntary administration last week.
The beloved eatery in Thornbury began as the delivery service side hustle for music festival organiser Joel Kellock, but then ballooned in popularity during the pandemic in 2020.
It later laid down roots with a brick-and-mortar boasting wine, music, merchandise, and its trademark small menu and late-night service.
The business garnered a loyal local following over the years with trendy marketing and quality to back it up, becoming the state’s first hatted lasagne restaurant.
