The news: Budget airline Bonza Aviation has entered liquidation after the company’s creditors held a second meeting on the future of the company on Tuesday. The context: In April, Bonza entered into voluntary administration after abruptly cancelling flights across Australia, stranding hundreds of domestic passengers, as it considered “the ongoing viability of the business”. Bonza’s…
Over the past two years, voluntary administration has become an all-too-common phrase in the beer world, a sign of the challenges faced by the brewing industry at a time when the wider economy is experiencing an ongoing downturn. While the number of VAs represents only a small percentage of the entire brewing industry, the attention…
Major private debt collector Panthera Finance has appointed new directors and put parts of the company into administration as it seeks to sell off its scandal-plagued business. Last month, Guardian Australia revealed Panthera, one of the countrys biggest private debt collection firms, had circumvented a blacklisting designed to stop it from operating in Victoria and…
Darlinghurst Theatre Company has announced via social media and its website that its directors have resolved to place the company into voluntary administration as of 17 June 2024. The company was formed in 1993 by Glenn Terry. Housed in The Eternity Playhouse since 2013, the Darlo has been a mainstay of Australian theatre for three…
The holding company of a superannuation fund created seven years ago to service gig economy and self-employed workers has entered voluntary liquidation. The GigSuper Group collapsed just over two years ago, reportedly owing creditors $2.7 million. Both the holding company, GigSuper Holdings Pty Ltd, and the subsidiary company, GigSuper Pty Ltd, entered voluntary administration in…
Major private debt collector Panthera Finance has appointed new directors and put parts of the company into administration as it seeks to sell off its scandal-plagued business. Last month, Guardian Australia revealed Panthera, one of the countrys biggest private debt collection firms, had circumvented a blacklisting designed to stop it from operating in Victoria and…
Darlinghurst Theatre Company has announced via social media and its website that its directors have resolved to place the company into voluntary administration as of 17 June 2024. The company was formed in 1993 by Glenn Terry. Housed in The Eternity Playhouse since 2013, the Darlo has been a mainstay of Australian theatre for three…
The Kirribilli Club in Sydneys north shore has entered voluntary administration. The club appointed Hugh Armenis of SV Partners administrator on June 19. After an initial period of trading to assess the status of the club, it ceased trading on June 24. The ex-services club, with over 18,000 members, was founded in 1946, and boasts…
It has been 33 years since the “recession we had to have” in 1991. Fears that Australia would enter a technical recession during 2023 didnt eventuate. At the time of writing, our economy continues to still be resilient (relying on massive population growth through migration) despite ongoing decreasing consumer sentiment but another year of slow…
The Australian startup ecosystem is facing its next wave of financial challenges. With a 54% decline in capital raised by Australian startups in 2023 and a 14.5% rise in insolvencies, Australian startups are financially strained. For those operating in the capital-intensive tech sector in particular, the time between funding rounds is harder than ever. Tech…