BBBLS B.V., known for its innovative soap bubble greenhouse insulation, has been declared bankrupt. The Dutch-Norwegian start-up was close to delivering a demo greenhouse in Monster to prove how the technology works in the Netherlands. The planned festive opening of the greenhouse in Monster failed to materialize this spring. The management filed for bankruptcy itself…
Australia’s corporate insolvency system is too complex, hard to access and unnecessarily costly and needs a major overhaul. That is the conclusion of a long-running inquiry into the system by the federal parliament’s corporations and financial services committee released on Wednesday. “Australia’s corporate insolvency system is overly complex, difficult to access, and creates unnecessary cost…
Among the insolvencies handled by Begbies were Paperchase, Worcester Rugby Club and the operator of the Park Lane Casino. (David Davies/ PA) (PA Wire) Insolvency specialists Begbies Traynor said the amount of companies going bust could keep rising all the way into 2024, but the growth will be steady rather than a sudden jump. Profit…
Jul 12, 2023 6.06pm Businesses holding assets in trusts should operate under the same laws as other corporations when they fall into financial strife to better help creditors get more of the money theyre owed and sooner, a parliamentary committee has recommended. The committee made 28 recommendations, including accepting all the measures proposed in the…
Restaurants across the UK are going insolvent at a pace not seen for more than a decade. A total of 3,347 restaurants have been unable to pay their debts in the past two years to March 2023, according to data from the Insolvency Service. During the first three months of 2023, an average of six…
Australia’s corporate insolvency system is too complex, hard to access and unnecessarily costly and needs a major overhaul. That is the conclusion of a long-running inquiry into the system by the federal parliament’s corporations and financial services committee released on Wednesday. “Australia’s corporate insolvency system is overly complex, difficult to access, and creates unnecessary cost…
Among the insolvencies handled by Begbies were Paperchase, Worcester Rugby Club and the operator of the Park Lane Casino. (David Davies/ PA) (PA Wire) Insolvency specialists Begbies Traynor said the amount of companies going bust could keep rising all the way into 2024, but the growth will be steady rather than a sudden jump. Profit…
Wednesday July 12, 2023 Advertisement Advertisement Queensland’s thin blue line gets green light to recruit up to 500 new overseas cops Charles Manson follower walks free from prison after 50 years behind bars Ascot Panoramic Brisbane vistas LIV and let die: How Greg Norman’s rebel golf tour tried to boot him out A life of…
The latest CreditorWatch Business Risk Index (BRI) for June 2023 has revealed a concerning reality B2B trade payment defaults have reached an unprecedented level. This indicates that businesses are at risk of collapsing, with insolvency rates likely to rise in the coming months. According to the June 2023 CreditorWatch BRI, B2B trade payment defaults have…
Ben Walker runs Brisbane-based accounting firm Inspire Accountants, which works exclusively with small business owners. Here he shares some tips and lessons learned over the years that may help businesses avoid becoming insolvent. First of all, to run through what insolvency is at a high level, it means that the business is not able to…