A cycle gym chain is closing all its facilities across Sydney and Canberra except for one, as the company goes into liquidation. Infinite Cycle was placed into liquidation two weeks ago after opening in 2021, promising “an experience like no other”. The fitness chain has gyms in Balgowlah, Bondi, Green Square, Neutral Bay and Waterloo…
KAIJU! Beer have become the latest brewery to enter voluntary administration, appointing DBA Reconstruction and Advisory to oversee a financial restructure of the overarching business, South East Brewing Company. Throughout the voluntary administration process, KAIJU! will continue operating as usual, with the doors to their Huntingdale brewpub remaining open and their production schedules continuing without interruption. …
The Star Entertainment Group is chasing hundreds of millions of dollars in extra funding from investors as the embattled casino operator fights the clock to stave off financial collapse. Discussions with its major investors, such as pokies billionaire Bruce Mathieson, continued deep into Sunday evening ahead of the expected release of Star Entertainment’s annual results…
An award-winning property developer has become the latest company in the construction industry to have fallen into insolvency in recent months. Queensland-based Property Solutions Holdings, known for developing some of Brisbane‘s most prominent urban renewal projects, went into voluntary liquidation on May 4 reportedly owing millions. The company fell on hard times in recent years…
A popular dining destination has been placed into voluntary administration as it battles with the cost-of-living crisis. The sprawling business in Penrith, which includes a cafe, bar and restaurant, first opened two years ago. Dubbed “Western sydney’s most memorable venue”, the site has been the backdrop for many weddings and special events. However, “a period…
Recreational and sporting goods supplier T&R Sports has entered liquidation and commenced a national auction worth millions of dollars. Lloyds Auctions will oversee the liquidation of the company’s inventory, which includes sporting goods, leisure equipment, and gym supplies. The auction will take place over less than 30 days at three warehouses in brisbane, sydney and…
Another construction company has fallen into liquidation as developers struggle to stay afloat amid rising supply costs and labour shortages. Queensland developer Property Solutions Holdings has entered liquidation as of May 4, according to Australian Securities and Investments Commission (ASIC) documents. Nick Combis from Vincents Chartered Accountants has been appointed as liquidator.
Star Entertainment’s lenders warn the sydney and gold coast casino owner could be in voluntary administration within months and its hotels carved up and sold to the highest bidders, as a lifeline deal to preserve its future as a listed company fails to materialise. Two sources close to Star’s secured debt providers, speaking on the…
Parents from 26 West Australian schools have been left without professional photos of their children, that they paid for, after a school photography business went under. Liquidators were appointed for Academy Photography Australia late on Friday May 10th 2024. Drive understands 26 WA schools are in the same position, having had school photos taken which…
A major restaurant chain with six locations has collapsed, suddenly shutting all venues. City Winery brisbane Pty Ltd on Wednesday made the decision to enter voluntary liquidation, closing all venues across Queensland’s capital city. Just five years after opening its first venue, all restaurants have now closed including its Fortitude Valley and Edward St locations,…