Sydney-based Wayward Brewing Co. and its co-owned distribution business Local Drinks Collective have entered into voluntary administration, seeking financial restructuring to cope with adverse economic conditions facing the craft beer industry. Local Drinks Collective is jointly operated with Batch Brewing Co, although Batch is not involved in the administration process. DBA Reconstruction & Advisory has…
Normal text sizeLarger text sizeVery large text size Australian shoppers will soon be unable to buy household cleaning products from Organic Choice, Trix, Orange Power and Aware Sensitive from Coles and Woolworths after the cleaning brands parent company collapsed just days into the new year. On January 2, Hiro Brands appointed three KPMG restructuring partners…
Most people have ambivalent feelings about generative artificial intelligence (Gen AI). A recent survey from Pew Research Center indicated that 52% of respondents were more concerned than excited about the use of Gen AI in daily life; just 10% were more excited than concerned and 36% were equally excited and concerned.1 This marks a notable…
In the wake of the pandemic, many businesses have faced unprecedented challenges. The U.S. Bureau of Labor Statistics revealed that 56% of establishments experienced decreased demand, while 19% had to close due to government mandates. These daunting statistics reflect a harsh reality where entrepreneurs have had to make the difficult decision to liquidate their businesses.…
Credit: Nagahisa_Design – stock.adobe.com PwC has warned that nearly 30,000 businesses across the UK are set to fail next year, marking the highest corporate insolvency levels since 2004. The Big Four firm predicts a 15% surge in insolvencies over the next 12 months, with small businesses, particularly in catering and hotels, facing the greatest risk.…
Economy A Gen Zer explains how he’s making $90,000 secretly working 2 hybrid jobs so he can pay off his debt: ‘The key is to be good but not exceptional’ Jacob Zinkula 2024-01-04T15:59:35Z Share icon An curved arrow pointing right. Share Facebook Icon The letter F. Facebook Email icon An envelope. It indicates the ability…
The Supreme Court has held statutory set off or insolvency set off is not applicable to Corporate Insolvency Resolution Process (CIRP) proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC). Further, Regulation 29 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (Liquidation Regulations), which provides for mutual dealing and set off,…
TAMPA, Fla. Millions of Americans are more in debt after the holidays. Were at record levels of debt in America and credit card debt hit a record high of a trillion dollars, said George Kamel, personal finance expert and Ramsey personality. About 25% of people are still paying off holiday debt from Christmas of 2022,…
Paying off debt can feel like an uphill battle, especially if you’re trying to balance your debt repayment while keeping up with other daily living expenses like rent, groceries, and a car payment. The quicker you can get out of debt, the less stress youll have, and the easier it will be to focus on…
The National Company Law Tribunal, which was seen as one of the major reforms to tackle bad loan recovery, has turned five amid serious concerns about the efficiency of its process and its outcomes. The Corporate Insolvency Resolution Process determines whether a defaulter can repay or not, by evaluating assets and liabilities. If a corporate…