European tour operator FTI Touristik has filed for insolvency at a court in Munich, Germany. The company, one of the largest tour operators in Europe, said the FTI Touristik brand is directly affected but that insolvency filings will follow for other group companies. Windrose Finest Travel will continue operations. The news comes weeks after FTI…
One in fifteen European companies are facing significant pressure to restructure this year after being hit by higher financing costs and weakening consumer demand, with Germany, Austria and the Nordics particularly under strain, according to a report by Boston Consulting Group. Around a third of businesses in Germany and Austria also face what BCG dubs…
By Ashley Nickel For Daily Mail Australia Published: 19:09 AEST, 3 June 2024 | Updated: 19:09 AEST, 3 June 2024 An innovative company that landed a deal with hardware giant Bunnings to stock its products has collapsed following the death of a wo… Read the full article at: https://www.dailymail.co.uk/news/money/article-13487745/Superfly-Bardee-collapse-Bunnings.html
An Australian start-up that landed its products on Bunnings shelves has collapsed after a worker was crushed to death last year. The company Bardee launched five years ago and had raised $8 million from investors to develop technology that turned food waste into fertiliser and pet food by using billions of black soldier flies. In…
ProForm Foods, an Australian plant-based meat company and producer of the MEET brand, has entered voluntary administration. Gayle Dickerson and James Dampney of financial advisory firm KPMG Australia have been appointed as administrators, and the first meeting of creditors was reportedly held on May 30. ProForm Foods will continue to operate as normal during the…
Australians experiencing financial stress are being urged to ask their bank or lender for help, after new research revealed that almost half of Australian adults with debt struggled to make repayments in the past 12 months. Research from the Australian Securities and Investments Commission (ASIC) found 47 per cent of Australian adults with debt about…
To be sure, delays in the insolvency process under the IBC are quite common. It takes an average of 679 days to achieve a resolution, as against 330 days envisaged under the code. Mint takes a closer look at the reasons for the delay in this case. How has the insolvency resolution process progressed so far?…
Data from the Australian Financial Security Authority (AFSA) has found a significant rise in personal insolvencies for the March 2024 quarter. According to the report, there has been a 19.5% increase compared to the same period last year. Unsurprisingly, economic challenges have been contributing to this rise, including cost of living pressures. However, a large…
In addition to the production sector, which should meet the demand for globally trending goods and services such as the silver economy (catering to an ageing society), greater emphasis must also be placed on the green economy, clean energy, and sustainable tourism. The restructuring of the Thai economy must develop to meet global demands. It…