UPDATE, 2.20pm: FORMER director of Kimberley Kampers Bruce Loxton has revealed Australia’s biggest caravan manufacturer Jayco offered the buy the Ballina business a few years ago. Amid speculation over whether the Kimberley brand might still have a future with the right buyer, Mr Loxton confirmed Jayco had shown serious interest in the company. Gerry Ryan,…
ITS the homegrown Australian fresh food favourite, promoted by the likes of Pete Evans and Steve Commando Willis, that hoped to be so successful it would be biting at the heels of McDonalds by the early 2020s. Now, the chain is desperately seeking a buyer to secure its future and that of hundreds of staff.…
Ghanas central bank, the Bank of Ghana (BoG) on Wednesday announced the creation of a new bank meant to serve customers of five stressed banks. The affected banks were named as: Unibank, The Royal bank, Sovereign Bank, Beige Bank and Construction bank. Unibank has links with a former BoG governor and one time Minister of…
Responsible lending, stricter credit assessments and easier card cancellations. The banking code of practice has unveiled its facelift today. The code was revised during 2016-17 and will apply from 1 July 2019. The code of practice includes measures to protect small businesses and consumers and covers everything from credit products to customer complaints. For credit…
THE company formerly behind The Brisbane Hotel has been placed under voluntary administration, leaving in its wake debts worth hundreds of thousands of dollars. Prominent hospitality operator Geoff Hayward cited high rents and a soft economy for entertainment venues on the Brisbanes trading losses for Capital Management over the past two years. Poor trading for…
Australia’s would-be Willy Wonka, Adriano Zumbo, is in a fight for the future of his sweet-laced empire after his company was placed in voluntary administration. Administrators appointed to companies in which the dessert king is a director held a creditors’ meeting in Sydney on Wednesday morning. While the administrators and Zumbo were unavailable for comment, attendees…
The rate of Australians declaring bankruptcy is increasing as record high household debt takes its toll, new data has revealed. According to data analytics company illion, 32,350 Australians have declared bankruptcy in the 2018 financial year, marking a 4 per cent increase. The lights are flashing red across several regions in terms of rising consumer…
On the run over a gambling debt in Marseilles, he scores a job as doctor on a passenger ship about to leave for distant ports. While the captain knows he’s not the real thing, he’s the only candidate. So he’s hired and does his best by employing his well-developed flair for improvisation. By the time…
Health-focused fast-food chain Sumo Salad is still searching for a buyer after the business went into voluntary administration late last month. The Sumo Group, which boasts a network of 85 franchise stores, called in Ferrier Hodgson partners Morgan Kelly and Peter Gothard as administrators on July 18. The administration process has an approximate timeline of…
Celebrity chef Adriano Zumbo’s dessert empire will continue trading while under voluntary administration, the group’s administrator says. DW Advisory principals Justin Holzman and Anthony Elkerton were appointed voluntary administrators on July 22 to manage three of Mr Zumbo’s businesses, which reportedly owe millions to creditors. “We are hopeful that there will be a restructure by…