The business of Anthony Cummings (son of horse racing legend, Bart) reportedly owes more than $2 million and has had his training company placed into liquidation. The Cummings name is synonymous with horse racing in Australia, with the late Bart Cummings training a staggering 12 melbourne Cup winners, with a race now named after him…
Another major Australian retail chain has collapsed, with the receiver warning that more could follow, as consumer confidence remains shaky. Key points: Administrator Cor Cordis plans to keep stores open and sell the whole group The chief executive said the company had been caught in a perfect storm of soft consumer demand, bushfires and coronavirus…
Hilary McNevin September 4, 2015 Save You have reached your maximum number of saved items. Remove items from your saved list to add more. Save this article for later Add articles to your saved list and come back to them anytime. Got it Better days: Brooks restaurant on the go.Paul Jeffers Is the restaurant site…
The company being reborn through a deed of company arrangement struck in administration is “the airline’s only chance”, said a source familiar with Virgin’s struggles. In administration, an independent party will assess Virgin’s position and negotiate with shareholders and creditors about the best outcome for the business. That could include finding new owners to take…
A Merhis apartment project under construction in Parramatta.Credit: Wolter Peeters The allegation was made by liquidators from Helm Advisory in documents filed with ASIC in April. The Merhis Group denied the allegations to the Herald. It settled claims from creditors in late September, agreeing to pay about $20 million to the tax office and other…
As the COVID-19 pandemic wreaks havoc around the world, Australians are hunkering down in their houses in a bid to avoid contact with the potentially deadly virus. Many states and territories have closed their borders and Australians have been banned from travelling overseas, with very few exceptions. As the nation stays indoors, many businesses are…
“Now that these concessions and support mechanisms have ended, from October 2022 to March 2023, there was a 61 per cent rise in insolvency compared to the same period last year, with 3632 cases reported this year compared to 2257.” Victorian Chamber of Commerce and Industry chairman Paul Guerra said rising inflation and the end…
Bag brand Crumpler has filed for voluntary administration after ongoing lockdowns and store closures have pushed the business to collapse. The investment firm Crescent Capital Partners, which owns the business, has appointed Glenn Franklin and Jason Stone from PKF melbourne as administrators. The administrators cited ongoing lockdowns as the primary reason for the Crumpler’s collapse.…
Another sydney building company has fallen leaving at least 60 creditors out of pocket and owing more than $1 million in debt. Simone Homes Pty Ltd went into voluntary liquidation on Thursday, August 24 with insolvency firm PKF’s Bradley John Tonks acting as the company’s liquidator. The business is family-run and was established in 2014…
cancelling all international flights late last month and