Shares of Tupperware Brands Corporation soared as much as 90% during the after-bell trade as the global consumer products company announced on Thursday that it has finalised an agreement with its lenders to restructure its debt obligations extending the maturity of certain debt facilities to allow it to continue with its turnaround efforts. This agreement…
Aug 4, 2023 4.02pm The corporate regulator is suing a former director of collapsed wealth firm Dixon Advisory for allegedly failing to properly consider the interests of creditors, including thousands of clients. The Australian Securities and Investments Commission alleges that Paul Ryan breached his duties as a director when he made decisions the regulator claims…
Chat app Discord has let go of nearly 40 employees (4% of its workforce) as part of companys restructuring efforts, according to multiple reports. Several Discord former employees posted on Twitter and LinkedIn that they were impacted by the layoffs. The job cuts have affected people in marketing, design, and entertainment partnership teams. The company…
Collins Street cafe Pope Joan closed this week after trying to find a buyer and going through business restructuring to pay creditors owed more than $900,000. Since the onset of the pandemic and changed office working conditions, trade at the cafe, which opened in 2019, has fallen by nearly 80 per cent. The city is…
ASIC has launched civil action against a Melbourne businessman who reportedly left more than 130 investors chasing millions of dollars in unpaid loans and interest from collapsed companies linked to him. The corporate watchdog said it was taking the action against Sasha Hopkins and his company, The A Team Property Group, for alleged unlicensed conduct…
The parent company of embattled health food brand Bounce known for its range of protein balls will have a new home, after it was bought out by another health company. Last month, documents revealed that Natural High Co Pty Ltd which operates Bounce Foods entered administration due to a heavy debt burden. But on August…
Collins Street cafe Pope Joan closed this week after trying to find a buyer and going through business restructuring to pay creditors owed more than $900,000. Since the onset of the pandemic and changed office working conditions, trade at the cafe, which opened in 2019, has fallen by nearly 80 per cent. The city is…