Tasmanian-headquartered food business HS Fresh Food has been placed into voluntary administration, with a sale or restructure of the business likely. HS is a major supplier of salads and fresh produce to Coles and Woolworths and the parent company behind the brands Houstons Farm, Sunfresh, Gourmet Selections and HS Fresh Farms. Advertisement Administrators from FTI…
The latest insolvency statistics for May 2024 show corporate insolvencies decreased by 6.4% in May 2024 to a total of 2,006 compared to April’s total of 2,144, and decreased by 21.2% compared to May 2023’s figure of 2,547. Personal insolvencies decreased by 3.5% in May 2024 to a total of 9,266 compared to April’s total…
Business failures are on the rise in Britain, with several high-profile names lost already this year. But since the 1980s, the UK has made it a priority to throw a lifeline to struggling companies. It appears, however, that these efforts to enhance the law are being hampered by sloppy language in the media, increasing the…
Advertorial ARYZAs new head of corporate insolvency, Tom OConnor. Aryza, a leading provider of financial software solutions, announces the appointment of Tom OConnoras its Head of Corporate Insolvency. With an extensive career spanning over a decade in the insolvency sector and a proven track record in product development and client engagement, Tom brings invaluable experience…
Several of these factors contributed to the rising levels of formal insolvency appointments and distressed asset sales seen over the past year, which is likely to continue into 2024. In this article, we look back at, and think forward to, the trends and legal developments which businesses, insolvency professionals, accountants and investors need to be…
A heavily pregnant woman is among Australians stranded in Vanuatu as the country’s national airline is placed into voluntary liquidation. On Thursday it emerged that all international flights scheduled on Air Vanuatu until Sunday had been cancelled, as the government “reviewed” the airline’s future. In a statement to media, Air Vanuatu confirmed international firm Ernst…
Above: Sule Arnautovic from Salea Advisory Access Print Solutions, Graphic Print Group (GPG) and Graphic Web in Sydney and Adelaide are now for sale after entering voluntary administration with 50 employees affected. Sule Arnautovic from Salea Advisory has been appointed voluntary administrator for the three businesses by the directors of the business. Arnautovic is a…
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 and supported through Arts NSW, the Darlo has been a mainstay…
In short: Childcare group Precious Cargo has gone into voluntary administration. Founder and director Cheryl Shigrov says seven operating childcare centres are affected in South Australia. A further four non-trading entities are in liquidation. What’s next? She says the childcare centres will remain operational until a buyer is found. A Montessori childcare chain that has…
Tasmanian-headquartered food business HS Fresh Food has been placed into voluntary administration, with a sale or restructure of the business likely. HS is a major supplier of salads and fresh produce to Coles and Woolworths and the parent company behind the brands Houstons Farm, Sunfresh, Gourmet Selections and HS Fresh Farms. Advertisement Administrators from FTI…