One of Australia’s largest contemporary multi-arts centres has gone into voluntary administration as the industry is hit hard by the COVID-19 pandemic. After being forced to close in late March and standing down almost half its core staff in mid-April, Carriageworks in Sydney’s inner city has this morning, Tuesday, May 5 announced the appointment of…
Major Australian retailer Mosaic Brands has entered voluntary administration, putting thousands of jobs at risk. The company — which is behind brands including Rivers, Katies and Millers — announced the move on Monday. The news comes after the fashion retailer last month said it was axing five of its businesses and closing more than 200…
“Today has been the last day of Doughnut Time,” Victoria state manager Vanessa Gaddi-Chmielewski wrote in an email supplied to the ABC. “I just received news from Dan [Strachotta] that the deal with the new company has been blocked by Damian. “He will not sign the Doughnut Time trademark to Dan. “As a result, the…
About 15 months after the Ku De Ta restaurant complex opened its doors on perth‘s Swan River, voluntary administrators have been appointed to the struggling venture. The Australian Securities and Investments Commission has confirmed that administrators have been appointed to asses the business’s future. The business is based on the company’s Bali restaurant. Executive chef…
It’s a sweaty brisbane Monday and Please Don’t Go by KC and the Sunshine Band is playing in the largely empty gaming floor of the Queen’s Wharf Casino. The sappy muzak chorus — “I’m begging you to stay” — is ironically symbolic of the problems befalling the casino’s manager, The Star Entertainment Group. Not enough…
Shares in struggling casino giant Star Entertainment have plummeted by more than 15 per cent after a brief trading halt was lifted on Friday, as the company searches for a financial lifeline to avoid collapsing. The casino operator entered a trading halt minutes before the Australian share market opened on Friday after failing to post…
The Australian fashion label Dion Lee has called in the administrators in a major blow to the eponymous brand that has dressed celebrities such as Taylor Swift, Dua Lipa, the Duchess of Sussex and Troye Sivan. The move came after the Australian retail chain Cue announced it had withdrawn its investment in the designer apparel.…
Maybe ASIC’s career bureaucrats should get out of the office and talk to a few insolvency specialists who are actually at the coalface. They say the figure is even less than what the ASIC report found. Stirling Horne, a partner at melbourne accountancy Lawler Draper Dillon, says: “For a company to go…
Developer Beulah International is reassuring buyers of progress at Australia’s tallest residential project, even as it seeks fresh debt and equity to keep the troubled $2.7 billion Sth Bnk development on track. Beulah on Tuesday put the Sth Bnk project management company into voluntary administration. On Wednesday it said it had started contacting purchasers and…
By BRETT LACKEY FOR DAILY MAIL AUSTRALIA and AAP Published: 15:31 AEDT, 30 April 2024 | Updated: 16:54 AEDT, 30 April 2024 Budget airline Bonza has collapsed into voluntary administration, with its leased planes repossessed and all schedule flights cancelled. Travellers were left stranded in airports across Australia on Tuesday morning as the carrier paused…