Elaine Wilcox There were 2,163 registered company insolvencies in June 2023, according to the latest figures from the Insolvency Service. While this was fewer than the 2,552 recorded in May, it shows a 27 per cent rise year on year, with 1,688 registered in June 2022. Figures from June 2023 included 260 compulsory liquidations 77…
National insolvency and advisory firm Mackay Goodwin has appointed an experienced insolvency practitioner as the director of its personal insolvency practice. Gavin King joins after six years at accounting firm Condon Advisory Group. CEO Domenic Calabretta said Mr King’s expertise and qualifications would raise the firm’s capabilities. His extensive experience spanning business-related matters, crisis management,…
An independent franchise at a popular Australian gym has collapsed into liquidation just a month after the master franchisor appointed administrators. In June, news.com.au exclusively reported that mixed martial arts gym chain UFC Gym Australia had gone into administration after becoming embroiled in a messy $5 million court case with several disgruntled franchisee owners. A…
In a report which was made public in May 2023, the IMF reviewed its 2023 GDP growth predictions for Portugal at 2.6%. This is just after it had predicted a growth rate of 1% in April (in itself, a leap from the projections made in October 2022 which set growth at 0.7%). According to public…
Mid last week (3 August), news spread that the Melbourne-based design firm Fenton & Fenton known for supporting Australian designers and artists had gone into liquidation. The following day (4 August), headlines again bore bad news. The Toronto-based company Lighthouse Immersive, known for its immersive experiences of Vincent van Gogh, Frida Kahlo and Claude Monet,…
Dozens of Victorians were fired on the spot and creditors are owed millions as a plumbing company collapsed, months after its director discreetly increased his salary. Privately-owned contractor C & S Plumbing Pty Ltd went into liquidation on March 27, according to news.com.au, a month after entering administration. For over a decade the plumbing business…
Aug 8, 2023 11.20am The Albanese government says it will continue to tolerate risk-taking by the federal governments independent northern investment fund after the collapse of a potash firm became the agencys first investment to formally collapse into insolvency. Kalium Lakes founding director Brent Smoothy asked market regulators to probe the Northern Australia Infrastructure Funds…
All 70 employees at a plumbing firm have lost their jobs on the spot due to the company going into liquidation after the director paid himself a handsome salary in the months leading up to the collapse. News.com.au can reveal that on March 27, C & S Plumbing Pty Ltd went bust and all its…
Most significant increases in insolvencies registered in Algarve, Leiria and Vila Real Insolvencies increased by more than 23% in July compared to the same period in 2022, confirming the upward trend since May, and company incorporations fell by 9%, according to data from Iberinform, released today. July has a total of 286 insolvencies, 54 more…
MOSCOW Russias economy has not shrunk to the point some Western governments and experts predicted following the countrys invasion of Ukraine. Indeed, since Feb. 24, 2022, the more than 11,000 added restrictions aimed at pressuring the Russian government have not delivered as much hell as originally expected, according to a report released a year later…