Its pretty easy to write about everything thats going wrong in todays cannabis industry. Today, I want to change gears and talk about some of the strategies weve seen work for distressed cannabis businesses in the past. Yes, some of these strategies may seem obvious at first. But pulling them off correctly especially in a…
Dolphin Marine Conservation Park managing director Terry Goodall with Hugo, an Australian sea lion born at the park in the Australasian Species Management Program for Endangered Species. DOLPHIN Marine Conservation Park has entered voluntary administration. The park and the Dolphin Marine Rescue Animal Rehab Trust operate without government funding. Advertise with News of The Area…
Heron Therapeutics, a San Diego biotechnology company that makes cancer and pain-management therapies, is cutting a quarter of its workforce and taking measures to save money. The goal is to run a lean operation that can achieve profitability in late 2024, according to Mondays announcement. The latest cost-saving measures are projected to save the company…
SINGAPORE The accounting industry watchdog will re-evaluate the sectors regulatory framework in a bid to keep pace with the changing business environment and maintain standards. The Accounting and Corporate Regulatory Authority (Acra) review will likely take some time, given the need to engage with key stakeholders and conduct public consultations before proposals are made to…
Though Switzerland’s GDP grew substantially in the first few months of 2023 and energy prices continue to fall, the Swiss federal government’s expert group expects significantly below average growth for the Swiss economy in 2023 in its latest forecast, with a GDP growth rate of 1.1%. According to the expert group, comparatively high inflation rates…
A leading Victorian company has collapsed owing tens of millions of dollars and leaving all of its employees without a job. Richstone Group Pty Ltd, the states largest privately-owned plumbing contractor, last month announced it was entering voluntary administration and restructuring. BRI Ferriers David Coyne and Peter Krejci were tasked with acting as joint administrators…
Some six months ago, Hyderabad-based Ind-Barath Energy walked out of the Insolvency and Bankruptcy Code (IBC) proceedings with a new buyer, JSW Energy, after nearly four years. Under the IBCs timelines, the process should have taken six months, or a maximum of a year if one factors in litigation. The outcome was equally disappointing, with…
It feels like there is a high-profile liquidation every other week. Media coverage has included stories on the collapse of tiny home companies, construction firms and homeware retailers, among many others. In just the past week, a failed pool company was under the spotlight. When businesses enter liquidation they usually leave a trail of destruction…
Yet another building company has collapsed, making it the fifth building company this week revealed to have gone under amid an industry-wide crisis. News.com.au can reveal that on July 11, Melbourne-based residential builder Construct Homes Pty Ltd went into receivership. Oak Capital Mortgage Fund appointed Sam Kaso of insolvency firm Cor Cordis as the receiver.…
Global business advisory firm EisnerAmper announces that Allen Wilen, Partner and National Director of the firms Financial Advisory Services Group, has been named a Top 25 Restructuring Consultant by the Global M&A Network. This prestigious award honors the best leaders from the global restructuring, insolvency, and distressed investing communities. The Global M&A Network is a…