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The administrator of failed retailer Mosaic Brands has raised the possibility that the company was trading while insolvent as far back as five years ago.
Mosaic, once one of the biggest ASX-listed clothing retailers, collapsed last year, with FTI Consulting appointed as administrators. The company operated clothing chains including Katies, Millers, Noni B and Rivers, all of which have now closed, resulting in hundreds of jobs being lost.
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Kamy Saeedi Law, one of Canberra’s most recommended insolvency and liquidation services. Photo: Rohan Thomson, Pew Pew Studio.
Is your company in serious financial trouble? Don’t panic too much – you’re not alone. COVID-19 has had an enormous impact upon our community over the past few months, as our government has taken actions to stop the spread and flatten the curve. But, with these mandated lock-downs forcing all non-essential services to temporarily close, and social distancing measures preventing people from leaving their homes, Canberra’s businesses have suffered a blow. And this is where insolvency and liquidation services come in.
Most people can relate to the paycheck-to-paycheck life. Every week barely scraping by, hoping that nothing big happens that will require you to go into debt — or further into debt — just to get by. If you’re in this position, the idea of having a comfortable amount of savings feels like a far-off dream. The good news? It’s not.
Financial expert Rose Han was once just like so many of us: $100,000 in debt, spending like there’s no tomorrow and slogging away at a job she didn’t love. Until one day she realized it didn’t have to be that way. Now she’s a…
One of the businesses owned by MasterChef alum Reynold Poernomo has collapsed, as fears grow his popular dessert bar could be in trouble.
Arnoldpo Corporation Pty Ltd, which operated as Monkey’s Corner in Chippendale, was placed into liquidation on May 28, just over a year after the venue closed its doors.
The small-plate bar and restaurant shut down in March 2024 after seven years in business.
It was first opened in 2017 by Reynold and his brothers, Ronald and Arnold.
Both Arnold and Reynold are listed as directors of the…
The company signalled its intention to appoint liquidators in April 2024 when its shares were suspended after it was unable to pay out a requested redemption of loan notes totalling £2.2m ($4.78m) to INL Investment Ltd from August 2023.
Deloitte liquidators David Webb and Robert Campbell were subsequently appointed to the company on July 31, 2024.
Over the course of the liquidation, Webb and Campbell were able to recover $370,646 in assets from the sale of furniture, fittings, remaining stock and certain other intellectual property.
I reported last month that James Dewar and Alistair McAlinden from Interpath were appointed as joint provisional liquidators and two local authorities are making arrangements for affected school travel.
Dundee-based Fishers Tours private hire coach company provided short and long-distance travel in Scotland.
The company employed 27 people and operated from Mid Craigie Industrial Estate with a fleet of 18 coaches.
The liquidator said: “In recent months, the business has faced financial challenges amidst rising costs but operated with fixed price customer contracts, which impacted its ability to meet its financial obligations.”
The business ceased trading and on appointment of the joint provisional liquidators all…
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Facebook App: Open links in External Browser
There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.
This can be done through the following steps:
1. Open the settings menu by clicking the hamburger menu in the top right
2. Choose “App Settings” from the menu
3. Turn on the option “Links Open Externally” (This will use…
