Video: Booktopia collapses into voluntary administration – Brisbane Times

Video: Booktopia collapses into voluntary administration Booktopia collapses into voluntary administration Were sorry, this feature is currently unavailable. Were working to restore it. Please try again later. Dismiss Skip to sections navigationSkip to contentSkip to footer Our network Open NavigationMenu Advertisement Booktopia has entered voluntary administration after failing to secure emergency funding. July 3, 2024…

Online retailer Booktopia goes into voluntary administration, customers waiting on unfulfilled orders – ABC News

In short: Australian book retailer Booktopia has gone into voluntary administration.  The company has been trading at a loss for over a year and earlier made 50 staff redundant.  What’s next? Administrators are looking at selling or restructuring the main Booktopia business and its three subsidiaries. Australian online book retailer Booktopia has gone into voluntary…

Insolvencies are rising. What precautions should leaders take? – Consultancy.com.au

The number of companies entering external administration has hit a ten-year record high last month, illustrating the mounting pressures on businesses. John Park, senior managing director at FTI Consulting, outlines why and how businesses of all sorts and sizes should be taking sensible precautions. For the nine-month period from 1 July 2023 to 31 March 2024,…

How Safe Harbour provisions work for startups facing insolvency – SmartCompany

The Australian startup ecosystem is facing its next wave of financial challenges. With a 54% decline in capital raised by Australian startups in 2023 and a 14.5% rise in insolvencies, Australian startups are financially strained. For those operating in the capital-intensive tech sector in particular, the time between funding rounds is harder than ever. Tech…

Insolvency and tech burning bright and fast: the cash runway challenge and navigating insolvency – Clayton Utz

There has been an increase in company insolvencies in Australia. Startups and early-stage technology companies have not been shielded from this, with recent high-profile collapses including Tritium and Milkrun. In this article we discuss insolvent trading risks, the state of the startup market, unique risks to startups and the protections offered by the “safe harbour”…