Personal insolvencies spike as business failures and economic strain take toll – SmartCompany

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…

Australian farming business HS Fresh Food enters voluntary administration – FreshPlaza.com

Australian agribusiness HS Fresh Food, known for its fresh salads, ready-made meals, and pre-prepared vegetable products, has entered into voluntary administration, impacting around 500 jobs. The company, which operates under brands such as Houston’s Farm, Sunfresh, and Gourmet Selections, and supplies to major retailers like Coles and Woolworths, appointed FTI Consulting administrators Vaughan Strawbridge, Joanne…

Montessori childcare chain Precious Cargo goes into voluntary administration after 18 years of trading – ABC News

In short: Childcare group Precious Cargo has gone into voluntary administration. Founder and director Cheryl Shigrov says seven operating childcare centres are affected in South Australia. A further four non-trading entities are in liquidation. What’s next? She says the childcare centres will remain operational until a buyer is found. A Montessori childcare chain that has…

Tasmania-based HS Fresh Food enters voluntary administration, sale or restructure likely – Pulse Tasmania

Tasmanian-headquartered food business HS Fresh Food has been placed into voluntary administration, with a sale or restructure of the business likely. HS is a major supplier of salads and fresh produce to Coles and Woolworths and the parent company behind the brands Houstons Farm, Sunfresh, Gourmet Selections and HS Fresh Farms. Advertisement Administrators from FTI…

Building company facing insolvency – Central Coast News – Central Coast News

RetireAustralia says it is committed to completing the 42 independent living apartments at Tarragal Glen Retirement Village at Erina despite the building company entering into voluntary administration. Stevens Construction (NSW) Pty Ltd, a major Central Coast company, announced on May 27 it had entered voluntary administration after almost two decades in the construction industry. Described…

How 14 years of Conservative rule has made council bankruptcy commonplace – The Conversation

A growing number of councils in England have declared bankruptcy since 2018, most recently Nottingham, Woking, Thurrock and Birmingham. With the situation in the devolved nations of the UK looking similarly precarious, the question of quite what has happened to local government finances in the UK is an urgent one. A council cannot, technically, go…