Under the Insolvency and Bankruptcy Code, 2016 (Code), an operational creditor can initiate a corporate insolvency resolution process (CIRP) of the corporate debtor by filing an application before the relevant National Company Law Tribunal (NCLT/ Adjudicating Authority) upon occurrence of a default in payment of its operational debt. However, the operational creditor must first send…
By Dominic Powell and Emma Koehn Small business groups have welcomed measures in the Tasmanian state budget designed to encourage SMEs to employ and train apprentices. The budget includes a $25 million package of payroll tax relief, including $17.1 million to waive payroll tax for businesses that employ young people and apprentices, reports the ABC. …
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Careers Australia, one of the biggest vocational education providers, has gone into voluntary administration with 1000 staff stood down and classes cancelled for 15,000 students. Play Video Don’t Play Nine charged over $165m ATO fraud Play Video Don’t Play Video duration 02:53 Previous slide Next slide Video duration 01:40 Careers Australia and Evocca’s funding ……
Sydney Thursday May 25, 2017 Some of Topshop’s Australian stores could close after the company operating them was placed in voluntary administration. Thursday May 25, 2017 Photo: AAP/Dean Lewins Thursday May 25, 2017Comments … Read the full article at: http://indaily.com.au/news/business/2017/05/25/topshop-australia-voluntary-administration/
One of Australia’s largest vocational education providers, Careers Australia, has been placed into voluntary administration. It leaves an uncertain future for its 15,000 students, 1,000 staff members and 13 campuses across the country, from Melbourne to Townsville. At its height Careers Australia was raking in hundreds of millions of dollars in taxpayer funding for…
Related Story: Local retailers feel fashion pain as global brands expand Related Story: Marcs, David Lawrence appoint voluntary administrators, Alannah Hill to exit David Jones Almost six years after opening stores in Australia, fashion retailer Topshop Australia has been placed into voluntary administration amid mounting debts. Administrator Ferrier Hodgson…
Some of Topshop’s Australian stores could close after the company operating them was placed in voluntary administration. Three partners from restructuring firm Ferrier Hodgson have been appointed voluntary administrators to Austradia, which operates nine stores, 17 Myer concessions and an online business. Ferrier Hodgson’s James Stewart said the Topshop/Topman stores will be open as usual…
Fast-fashion retailer Topshop Australia has entered voluntary administration, leaving employees across the country feeling shocked and uncertain about their future. The company says it will be business as usual while administrators decide on the next steps, and has promised its 760 employees they will still be paid. Australia’s arm of Topshop/Topman has nine stand-alone stores,…
High-profile fashion retailer Topshop Australia has collapsed under debts and entered voluntary administration, with the future of its stores and workers under a cloud. Administrator James Stewart, of Ferrier Hodgson, said the company would continue to trade as normal while it considered its “optimal operating structure”. Topshop Australia franchisee Hilton Seskin. Photo: Simon Schluter “It will…