A major cinema chain in regional Australia has gone into voluntary administration after a horror 12 months where not even blockbuster movies Barbie and Oppenheimer could save it. Majestic Cinemas operates nine cinemas in regional NSW and Queensland. Locations include Nambour, Port Macquarie, Inverell, Nambucca, Wynnum, Kempsey, Singleton, Sawtell and Nelson Bay. The business went…
Work has halted on 21 building projects in Queensland and NSW after construction firm St Hilliers called in administrators over the weekend, a casualty of the flagging building sector where insolvencies last year hit an all-time high. Administrators WLP Restructuring partners Glenn Livingstone and Alan Walker said they have secured sites and paused work on…
Yesterday, Black Hops Brewing faced imminent death. Today, the acclaimed gold coast brewery is back on track after a group of investors – Black Hops Craft – swooped in to save the business at the 11th hour. “We are passionate supporters of craft beer and independent breweries,” Black Hops Craft’s Darren Hill said in a…
Budget airline Bonza has fallen into voluntary administration after passengers were left scrambling to find seats on planes following sudden cancellations. Flights to and from Bonza’s major hubs at melbourne Airport, Sunshine Coast Airport, and the gold coast Airport were cancelled in the early hours of Tuesday morning, plunging passengers’ travel plans into disarray. ASIC…
A major Western Australian building and engineering company has collapsed after its $350 million lifeline ended when another firm pulled out of a merger deal. On Monday, perth-based Clough Group went into voluntary administration after the takeover deal fell through, leaving its 1250 employees uncertain about their future. An Italian industrial construction group called WeBuild…
Scott Wilcox, the former director and shareholder of high-end residential builder Dome, says his former fellow directors chose to put the company into liquidation last week and turned down offers he made to keep the business going, including coming back to run it. In a LinkedIn post late on Monday, Mr Wilcox said he was…
Stage Two of Bernborough Ascot, titled Poinciana House, was scheduled to be ready for occupation in mid to late 2024. In addition to 53 new apartments, alongside Doomben Racecourse, in the suburb, 6.5km northeast of brisbane‘s CBD, residents of the Stage 2 development are due to have a bowling green, indoor pool, a health and…
A company linked to the builder of sydney’s troubled Opal Tower will be liquidated, with creditors seeking as much as $36 million for a series of buildings in the city plagued by faults. The company, formerly named Icon Construction Australia (NSW) Pty Ltd, was placed in voluntary administration in November after slugging it out with…
Low-cost airline Bonza has entered voluntary administration after passengers were met with signs saying their flights had been abruptly cancelled on Tuesday. People were left stranded as planes were repossessed, with vision showing them being towed from the tarmac. CEO Tim Jordan apologised as he advised all services were “temporarily suspended” while he determined the…
A branch of a melbourne hospitality chain that has ties to several popular food and drink venues has collapsed. Legacy Hospitality Group Pty Ltd went into liquidation on October 6, according to documents filed with the Australian Securities and Investments Commission (ASIC). Andrew Knight and Sebastian Hams from insolvency group KordaMentha have been appointed as…