Summary Dreams shattered: Both Bonza and Rex failed to break into Australia’s airline duopoly, met with closure. Rex administration: Domestic flights grounded, Virgin Australia offers rebooking for affected customers. Uncompetitive duopoly: Qantas and Virgin Australia prices likely to remain high after Bonza and Rex exits. In just three months, the two airlines that had the…
By STEPHEN JOHNSON, ECONOMICS REPORTER FOR DAILY MAIL AUSTRALIA Published: 17:56 AEDT, 24 June 2024 | Updated: 13:02 AEDT, 25 June 2024 A major home building company has collapsed just 18 months after it was fined more than $40,000 for underpaying a worker. Designer Projects Victoria Pty Ltd was put into liquidation on Monday after…
There has been a run a good news stories out of Western Australia’s beer scene in recent weeks, but that run has been broken with Margaret River-based Black Brewing Co entering voluntary administration. The brewery in the heart of wine country on Caves Road, which also runs Dune Distilling, is closing its restaurant tomorrow (June 15)…
Yet another construction company has collapsed with perth builder City Residence Pty LTD going into liquidation. Peter Malone from CRS Insolvency Services was appointed liquidator on Wednesday after a company meeting resolved City Residence should be wound up. The company was yet to complete 13 residential building projects despite the liquidation. Building and Energy acting…
The Transport Workers Union says administrators of Rex Airlines expect up to 610 jobs to be axed after the carrier entered into voluntary administration. Its fleet of Boeing 737 jets, which provide services between the major capital city airports, have all been grounded. Rex’s regional services will continue to operate. A statement posted to the…
A spate of recruitment and labour hire companies have crumbled recently as the slowing economy makes employers more reluctant to fork out money to external recruitment firms who are struggling to fill job vacancies with qualified candidates. Public insolvency notices published by the Australian Securities and Investment Commission show a range of staffing companies, such…
APA Group is assessing a range of potential future uses for the Moomba sydney ethane pipeline after its principal user entered into voluntary administration. The Moomba Sydney ethane pipeline (MSEP) is a 1300km ethane pipeline connecting Moomba, South Australia to Qenos’ petrochemical facility in Port Botany, NSW. Plastics manufacturer Qenos has until now been the sole…
Twelve customers have been left in the lurch following news their
All Rex flights between capital cities have been grounded and the airline has entered voluntary administration just hours after the Albanese government suggested it would intervene to ensure the nation’s third-largest carrier didn’t collapse. Late on Tuesday, EY – formerly known as Ernst & Young – announced it had been appointed as administrators of the…
All employees at a sydney joinery and manufacturing business heavily involved in corporate and commercial construction have lost their jobs and the firm has ceased to trade. On Friday morning, 30 cabinet makers rocked up to the Wetherill Park factory of GDK Group expecting “work as usual”. But just 15 minutes earlier news.com.au had revealed…