Insolvency Guardian Media Centre
A new report by ASIC has revealed that small business restructuring (SBR) appointments have surged in recent years, rising from 448 appointments in 2022–23 to an estimated 3,000 in 2024–25.
“After a slow start, the recent growth of SBRs and other data in our report shows that the SBR regime is starting to deliver on the intended policy objective of reducing the complexity and costs involved in insolvency processes for small businesses and ultimately helping them to survive,” ASIC commissioner Kate O’Rourke said.
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In 2021, the federal government launched the SBR scheme to support small businesses in the wake of the COVID-19 pandemic. The…
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One of Australia’s leading post-production houses, Cutting Edge, which has worked on films such as Pirates of the Caribbean and Aquaman, has closed down and gone into liquidation, with staff allegedly owed over $2.4 million Australian dollars.
Large companies like this closing down is very concerning, given the current state of the industry.
On social media channels, the company left the following statement:
This comes as a bit of a shock, as just 2 months ago the company was actively hiring.
For the last 35 years, Cutting Edge has been a leading provider of sound and picture post-production for the advertising, features & television industries, both in Australia and internationally.