Corporate insolvencies have risen by almost a third with 329 businesses closing their doors in the first six months of 2023. According to the latest insolvency statistics by Deloitte, the figure points to a return to 2019 levels, prior to the implementation of government supports for businesses during the pandemic. In addition, the increase in…
The collapse of yet another Victorian building company , Kleev Homes, has underscored the dramatic plight of the industry in the state. The construction sector in Victoria has seen insolvencies surge by a massive 74 per cent in the past year. Kleeve Homes demise has left creditors owed $3.3 million and proven another kick in…
The latest edition of our weekly Dezeen Agenda newsletter features news that electric bicycle manufacturer VanMoof has been declared bankrupt in the Netherlands. Following the company’s pandemic-time boom, court-assigned administrators are now looking into whether the Dutch company could be restructured or sold so that it can continue operations in the Netherlands. Known for selling sleek high-end…
A major plumbing company has quietly collapsed into liquidation, with all 150 of its employees losing their jobs on the spot because of its demise. In March, Victorias largest privately-owned plumbing contractor Richstone Group Pty Ltd and seven related entities went into voluntary administration to urgently restructure the business. The restructuring attempt ultimately couldnt turn…
In short: The founder of collapsed soft plastics recycler REDcycle says she always thought stockpiled soft plastic stores would be spared from landfill What’s next? Governments and major supermarkets are exploring options to deal with the 11,000 tonnes of materials left by the company The founder of failed plastic recycler REDcycle has defended continuing to collect materials in the…
Combatting climate change has gone from a nice idea to an economic necessity, and the sooner we accept this reality, the better off well be. The harsh reality of economic loss by climate change hit AAA insurance recently when it stopped renewing some home and auto policies in hurricane-plagued Florida. The insurer wouldnt say how…
In a rare move, leading London insolvency chambers South Square has added two experienced juniors to its ranks. Oliver Hyams is leaving Gatehouse Chambers, where he has been based since 2018, and Jon Colclough is exiting New Square Chambers after eight years to join the set. The additions to its ranks are unusual for South…
In a rare move, leading London insolvency chambers South Square has added two experienced juniors to its ranks. Oliver Hyams is leaving Gatehouse Chambers, where he has been based since 2018, and Jon Colclough is exiting New Square Chambers after eight years to join the set. The additions to its ranks are unusual for South…
Tuesday, July 25th, 2023 07:50 | By The International Monetary Fund (IMF). PHOTO/Courtesy The International Monetary Fund (IMF) has given Kenya up to June 2024 to quantify the fiscal risks emanating from fifty broke state parastatals as the multilateral lenders continue to tighten loan conditions. This is part of fresh conditions IMF penned in its…
SAN FRANCISCO — The Pulitzer Prize-winning Santa Barbara News-Press, one of California’s oldest newspapers, has ceased publishing after its owner declared the 150-year-old publication bankrupt. The newspaper became an online-only publication in April. But its last digital edition was posted Friday when owner Wendy McCaw filed for bankruptcy. Managing editor Dave Mason broke the news…