Category Archives: Liquidation

Sequel Books and Stationery: Major supplier to schools collapses owing $5million – Daily Mail

By Pranav Harish For Daily Mail Australia Published: 22:11 AEDT, 20 March 2024 | Updated: 22:58 AEDT, 20 March 2024 Stationery supplier Sequel Books and Stationery has collapsed after more than three decades in business delivering books to more than 50 schools. The firm located … Read the full article at: https://www.dailymail.co.uk/news/article-13218137/Sequel-Books-Stationary-liquidation-Brisbane.html

RBA interest rates: Corporate insolvencies spike to a decade high – The Australian Financial Review

Mar 20, 2024 3.49pm Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? A wave of business failures in construction, hospitality and retail has pushed up the number of monthly insolvencies to the highest in almost a decade, as rising borrowing costs,…

NCLT admits insolvency plea against yarn maker Shrivallabh Pittie Industries – The Economic Times

The National Company Law Tribunal (NCLT) in Mumbai has admitted a corporate insolvency resolution process (CIRP) against over a century-old textile maker ShriVallabh Pittie (SVP) groups affiliate Shrivallabh Pittie Industries Ltd in an application filed by the State Bank of India.The lender had approached the tribunal after the company defaulted on its dues of about…

Australian telco supplier NetComm Wireless enters voluntary administration – SmartCompany

Telco equipment supplier NetComm Wireless has entered voluntary administration after operating for over 40 years. Documents listed by the Australian Securities and Investments Commission (ASIC) on March 13 show Kate Conneely and Rahul Goyal from Cor Cordis have been appointed administrators of the company. NetComm Wireless provides telecommunications infrastructure equipment to telco companies in Australia…

Builder crashes: 'Never thought we'd be one of them' – Canberra CityNews

The National Arboretum Visitor Centre one of Project Coordinations building projects. Award-winning, 50-year-old Canberra construction and management company Project Coordination is in voluntary administration. On Tuesday morning staff were dismissed from its Canberra and Wollongong offices. A quarter of our staff have been with us for 15 years or more, with many over 20 years,…

Staff sacked as builder collapses owing $20m – news.com.au

A major building company has collapsed with the majority of staff sacked and $120 million worth of projects up in the air. Project Coordination (Australia) Pty Ltd, which had been in business for 50 years, went into voluntary administration on Tuesday afternoon. The business had offices in Canberra and Wollongong and did construction work in…

The two events that saw Deeds Brewing go into administration – The Shout

Melbourne-based Deeds Brewing has become the latest craft brewer to enter voluntary administration (VA), as the strain on Australias small breweries and businesses continues to grow. Deeds joins the likes of Bad Shepherd, Ballistic,  Big Shed, Hawkers, Golden West and Wayward in VA, although Wayward and Hawkers have since found a way back into operating.…

Boss gets $1m before builder collapsed – news.com.au

The director of a failed building firm received a loan for nearly $1 million in company money before the business collapsed while his customers have been left with nothing, according to a public liquidators report. Tozer Construction Group, which did residential building in NSW and the ACT, was court-ordered to go into liquidation at the…

Canberra day spa Adytum goes bust, leaving workers and customers in the lurch with unpaid wages and unusable gift vouchers – ABC News

In short: A Canberra day spa has gone into liquidation with staff saying they were blindsided by the business bust. Adytum workers claim they are owed wages while customers in possession of gift vouchers have been left out of pocket.  What’s next? Access Canberra recommends voucher holders apply as creditors with the liquidators, in a bid to get…

Award-winning brewery on the brink of closure amid soaring overheads – Sky News Australia

A renowned Australian brewery could soon be forced to shut its doors after entering voluntary administration over a racked-up taxation debt and soaring operational costs. Award-winning Deeds Brewing based in Melbournes Glen Iris appointed administrators for multiple companies under its banner on Wednesday to gauge the most financially viable model for the business moving forward.…