NZX-listed Cannasouth (CBD) has gone into voluntary administration with trading in its shares suspended by the regulator. Earlier this week, the firm was placed in a trading halt at its own request following a dispute with secured convertible noteholders which NZ RegCo said could prejudice a crucial capital raise. CBD has an urgent need to…
In a surprising turn of events, Black Hops Brewery announced today via social media that the company would enter voluntary administration. This decision comes amidst a significant business restructuring, following the departure of founders and owners in recent years. The Gold Coast-based brewery, known for its unique craft beers and strong community presence, has undergone…
A popular Sydney restaurant chain has entered administration, putting about 180 jobs at risk. Five separate restaurants, all of which fall under the management of Elements Dining Group, have entered voluntary administration, according to the Australian Securities and Investments Commission (ASIC). This includes Elements Bar and Grill restaurants at five locations in Pyrmont, Wooloomooloo, Darlinghurst,…
Listed medicinal cannabis company Cannasouth has gone into voluntary administration after failing to raise much-needed money from investors. Earlier this week, share trading in the company was halted following a dispute with some investors, with the company warning it needed the money to remain solvent. In a market announcement late on Thursday, Cannasouth revealed administrators…
The live music industry is facing one of the darkest periods in its history as the fallout from bubbles created by COVID funding, spiraling artist and insurance fees and the cost of living crisis bite. With the crisis funding now gone and audience preferences shifting, the industry is feeling real pain. This week saw Splendour…
Award-winning Queensland brewer Black Hops (BH) has vowed to keep its taprooms open despite going into voluntary administration. The Gold Coast-founded small business has not revealed why it was forced to relinquish control to accountancy firm Deloitte on Monday, other than to say it had no alternative. Today, the BH board has made the tough…
Black Hops Brewing have entered voluntary administration, with the Queensland brewery appointing David Mansfield and Timothy Heenan from Deloitte Financial Advisory as joint administrators according to a filing with ASIC. In a post on social media, the brewery team said it was a tough decision but “circumstances have meant there was no alternative”, adding that their…
New figures from Deloitte Ireland show that the number of corporate insolvencies jumped by 47% in the first quarter of 2024 compared to the same time last year and could reach a total of 800 by the end of the year. Deloitte’s latest Insolvency & Restructuring Statistics reveal 214 corporate insolvencies during the first three…
By Antoinette Milienos For Daily Mail Australia Published: 17:00 AEDT, 26 March 2024 | Updated: 18:05 AEDT, 26 March 2024 Australia’s construction industry tradies have walked off job sites over unpaid bills a another firm has crashed with unfinished projects in four states. C… Read the full article at: https://www.dailymail.co.uk/news/article-13238849/Allroads-Pty-Tradies-walk-job-builders-200million-collapse-second-company-crashes-30million-debt.html
Defence, road and other state government infrastructure projects are now in limbo after a Queensland-based construction company was ordered into liquidation. Jon and Dan Fulton, who founded AllRoads in 2009, have had their company ordered into liquidation by the Queensland Supreme Court. The company went into administration as pipe supplier Enviropipes submitted a winding up…