These are without doubt, unprecedented times. Small businesses in virtually every sector are struggling financially and facing concerns about what is ahead and how they will survive. Since May over a million bounce back loans have been issued, the 100-per-cent Government-backed loan scheme to support small businesses during the pandemic. But according to banks, its…
Later than any of its peers, Booking.com announced Tuesday it will be restructuring, and eliminating up to 25 percent of its global employee base, a number Skift estimated to be roughly 4,300 employees. Glenn Fogel, the CEO of both parent company Booking Holdings and Booking.com, is expected to tell Booking.com employees that Covid-19 hit Booking.com…
Pizza Express is considering closing 15% of its UK restaurants, which would mean the loss of 1,100 jobs. The chain is the latest High Street outlet to undertake a restructuring of its business after trading was halted by the coronavirus pandemic. It is poised to launch an insolvency procedure which could see 67 of its…
A general view of a street linking to 9 de Julio Avenue is seen with cars as Argentina extends the curfew till 24th of May, imposed since 20th of March, in an effort to stem the spread of the coronavirus (COVID-19) pandemic in Buenos Aires, Argentina on May 21, 2020. Muhammed Emin Canik | Anadolu…
Man pushing a large ball labeled “DEBT” up a steep hill More If you have multiple debt balances from credit cards, high-interest loans and other forms of debt, you may want to merge them into one payment. You can use a debt consolidation loan to combine them into one lower-interest loan. There are many options…
But in 2010 he brokered a Part X personal insolvency deal to repay creditors $3.3 million, plus a profit-sharing deal, to restructure $495 million in debt. He was subsequently declared bankrupt in 2012, and this was discharged in 2015. But he was arrested in 2017 and declared he is not guilty of 12 fraud charges…
Many Indian households are likely to experience financial distress in the aftermath of the Covid-19 pandemic. Unemployment rates, according to the Center for Monitoring Indian Economy, increased from around 8 per cent in February to approximately 23 per cent in May 2020. In many cases, especially for migrant workers, the situation has metamorphosed into a…
kikki.K founder Kristina Karlsson will stay on as shareholder and leader of the business. The Australian design retailer was placed into voluntary administration in March, blaming external pressures such as Brexit and social unrest in Hong Kong. A partnership with US-based EC Design will see kikki.K continue to trade online,in addition to a selective retail…
A TWEED Heads travel agency has likely become the latest victim of COVID-19 – falling into liquidation owing $155,000. The directors of D P & C Ryan Pty Ltd, which traded as Global Travel & Cruise and was part of the Helloworld Travel group, made the decision to undertake a creditors’ voluntary winding up of…
How did you move into specialising in insolvency? Newcastle born and bred, I moved to Sydney after finishing my commerce degree at Newcastle Uni. I joined accounting firm Grant Thornton when they were handling the restructure of Patrick Stevedores during the 1988 Australian waterfront dispute, which helped change Australian workplace law forever. I also handled…