Budget airline Bonza has fallen into voluntary administration after passengers were left scrambling to find seats on planes following sudden cancellations. Travellers were left stranded in airports across Australia on Tuesday morning amid urgent talks about the future of the airline. ASIC records on Tuesday afternoon showed the company appointed external administrators, named as Hall…
A caravan builder based in melbourne has collapsed into liquidation with estimated debts of up to $1 million. Highline Caravans Pty Ltd, located in the outer suburb of Campbellfield, went into voluntary liquidation this week according to a notice published on ASIC. The company went bust potentially owing between $700,000 and $1 million. Early reports…
In short: Creditors have approved a financial rescue plan for the melbourne Rebels in a boost to the embattled club’s chances of survival. The Rebels went into administration in January with debts of over $20 million. What’s next? The plan is contingent on Rugby Australia awarding the new consortium a license. Creditors have voted to accept…
Property scion Daniel Grollo has avoided the humiliation of his collapsed Grocon construction empire being liquidated after the tax office and creditors of 88 failed companies voted to accept an arrangement that will see small creditors and employees paid out. Creditors met on Thursday to vote on Mr Grollo’s proposal for an amended Deed of…
A Victorian based builder called Hotondo Homes Horsham, which was a franchisee of a national construction firm, has collapsed affecting a number of homeowners. The company had 11 homes under construction at the time of its collapse, while there are also 11 employees with outstanding entitlements. It is the second Hotondo Homes franchisee to go…
The fall of perth builder Clough into voluntary administration after more than a century in business marks the latest in a string of local builders to hit troubled waters. Key points: WA building giant Clough has entered voluntary administration The administration is being overseen by Deloitte The delivery of several big projects is now in doubt…
Image source: Linkedin sydney-based print broker Mesh Direct has gone into voluntary administration with several printers caught up in the collapse of the company. Mesh Direct owes a number of wide format printers hundreds of thousands of dollars as well as staff entitlements of more than $250,000 – with total debt calculated to be $1,924,086.53.…
Australian luxury fashion retailer Harrolds has collapsed while owing more than $12 million. The four entities that make up the Harrolds Group were placed into liquidation at the start of October. In a statement provided to 9News, liquidator SMB Advisory put the department store’s collapse down to the difficult post-pandemic economy. A shoe display at…
Another construction giant has collapsed, putting the jobs of more than 1200 Australians in jeopardy and impacting the Snowy 2.0 hydropower project. Clough announced today it was being placed into voluntary administration. The perth-based engineering group has been involved in numerous large-scale infrastructure projects around the country, including hydropower, energy, transport and mining. Clough has…
The Australian Securities and Investments Commission (ASIC) said creditors have resolved to wind-up UGC and David Stimpson of SV Partners has been appointed as a liquidator. UGC withdrew its application regarding the cancellation of its Australian financial services licence, which was cancelled on 31 July, and the Administrative Appeals Tribunal (AAT) dismissed that application. An…