The Star hospitality operations in Queensland and NSW – including its hotel, restaurant and bars tenants – face an uncertain future if casino operator enters voluntary administration or has its administration enforced over poor financial results. “All bets are off,” said one hospitality operator insider if its landlord, The Star sydney, goes under. “It’s not…
A glamorous couple flaunted their lavish lifestyle before their building firm suddenly collapsed with some contractors claiming they are still owed money. Cynthia Lu and Yusuf Khan’s perth-based company Modco Residential announced it had entered voluntary administration on Monday. The organisation was launched in 2020 with an exclusive VIP party that was attended by Perth‘s…
A dispute between two of Australia’s best-known property companies has boiled over into public after builder Grocon put two subsidiaries into voluntary administration in the middle of a court battle with Dexus over a $28 million lease claim against it by the country’s largest office landlord. Grocon executive chairman Daniel Grollo on Friday called the…
perth restaurateur Scott Taylor’s company owes at least $3.5 million to creditors. Mr Taylor and his sister Angie Lee Taylor are co-directors of Element WA, the company which ran The Trustee, Beaufort Local and Enrique’s School for Bullfighting. Element WA was placed in voluntary administration on October 30. Just weeks later, the brother and sister…
The “ethical burger” brainchild of celebrity chef Shannon Bennett has gone into liquidation as the chain’s parent company decides to “shift priorities”. Benny Burger, which operated stores on Swan Street in Richmond and Little Collins Street in melbourne‘s CBD, will now close effective immediately. Vue Group, who owns Benny Burger and a number of Bennett…
The operator of brisbane‘s AirportlinkM7 toll road has gone into receivership, after failing to reach a restructuring agreement with its lenders. BrisConnections today went into voluntary administration, with the company appointing McGrath Nicol as the administrators. The move followed an announcement in November last year that the company’s board felt the enterprise value of BrisConnections…