Prepared by Giulio Nicoletti, Ralph Setzer, Mika Tujula and Peter Welz Published as part of the ECB Economic Bulletin, Issue 2/2022. 1 Introduction The coronavirus (COVID-19) crisis was a major shock for the non-financial corporate (NFC) sector. The pandemic and the associated containment measures translated into a large drop in sales for firms. The rapid pace…
Australian Small Business and Family Enterprise Ombudsman Bruce Billson interview with Stephen Cenatiempo. Radio 2CC Canberra Subjects: Insolvency and small business; help for small businesses needing support Stephen Cenatiempo When it comes to businesses, some of the statistics are quite sobering. There’s been a 20% increase in queries from small businesses struggling to manage their…
Marquee Retail Group, the owner of accessory brands Colette by Colette Hayman and The Daily Edited, has appointed a voluntary administrator after failing to save both brands from collapse. The company said in a statement it plans to keep all 60 stores open while in voluntary administration and has no intention to reduce its 400…
Popular jewellery and bag companies Colette and The Daily Edited have fallen into voluntary administration, as their umbrella company Marquee Retail Group tries to salvage their business during cost of living pressures. MRG, which owns the popular accessory brands Colette by Colette Hayman and The Daily Edited, stated the business had suffered from the unplanned…
Leading independent Australian law firm Johnson Winter Slattery (JWS) has launched the next edition of its comprehensive Insolvency & Restructuring Case Summaries publication, providing commentary on the most high-profile and precedent-setting cases in the insolvency and restructuring space. With more than 45 case summaries highlighting the key takeaways and the practical implications for insolvency practitioners,…
In short: Complaints about how banks handle financial distress rose 25 per cent last year, the Australian Financial Complaints Authority (AFCA) said. More than half of the complaints were about a lender’s failure to respond to a request for help a breach of national codes. What’s next? The Australian Securities and Investments Commission (ASIC) is conducting a…