A country medical service facing liquidation has angered creditors by offering them 30 per cent of what they are owed to escape a half-a-million-dollar debt while pushing ahead with plans for a new clinic. Key points: I-Medical Australia is facing liquidation after racking up almost half a million dollars in debt in three months Doctors who worked…
Popular Japanese restaurant Okami has placed more than a dozen of its venues into voluntary administration across the country. The all-you-can-eat restaurant said the effects of the pandemic combined with rising inflation led to a decline in sales. Impacted venues include eight in NSW, five in Victoria, two in the ACT and one in South…
By Ashley Nickel For Daily Mail Australia Published: 09:16 AEDT, 21 December 2023 | Updated: 09:16 AEDT, 21 December 2023 Popular all-you-can-eat Japanese restaurant chain Okami has put 16 of its stores in Victoria, New South Wales, South Australia and the ACT in voluntary admi… Read the full article at: https://www.dailymail.co.uk/news/article-12887225/Okami-Japanese-eat-restaurant-chain-plunges-16-outlets-administration-NSW-Victoria-ACT-South-Australia.html
Appu Hotels Ltd., which owns and operates Le Meridien in Chennai and Coimbatore, is out of the Corporate Insolvency Resolution Process (CIRP) as the National Company Law Tribunal, on Wednesday, gave nod to promoter Palani G. Periasamys settlement proposal to the creditors. In 2020, the National Company Law Tribunal (NCLT) in Chennai admitted an insolvency…
A popular Japanese restaurant has put over a dozen of its venues into voluntary administration across the country, with inflation and pandemic costs being blamed. Eight Okami restaurants in NSW have been placed into administration along with five in Victoria, two in the ACT and one in South Australia. The all-you-can-eat restaurant chain has more…
The Australian Securities and Investments Commission (ASIC) has released its latest annual statistics of reports lodged by registered liquidators about Australian corporate insolvency, revealing small businesses are still experiencing the reverberations of the COVID-19 pandemic. Statistics show small to medium-sized businesses (SME) continue to dominate in the number of reported corporate insolvencies. Of the reports…
A perfect storm of economic struggles and a covid hangover have forced annual corporate insolvency figures into a 14-year high, with record numbers of businesses now turning to an insolvency process to help resolve significant financial issues. This is according to the Midlands branch of insolvency and restructuring body R3 and follows latest statistics published…
A popular Japanese restaurant has put over a dozen of its venues into voluntary administration across the country, with inflation and pandemic costs being blamed. Eight Okami restaurants in NSW have been placed into administration along with five in Victoria, two in the ACT and one in South Australia. The all-you-can-eat restaurant chain has more…
Economic challenges and lingering effects of the COVID-19 pandemic have led to a 14-year high in annual corporate insolvency figures, as businesses increasingly resort to insolvency processes to address significant financial difficulties. The Midlands branch of R3, an insolvency and restructuring body, reports this trend based on the latest statistics from the Insolvency Service. In…
An embattled gym chain with businesses all across Australia has collapsed six months after external administrators first took over the business amid a protracted legal fight, with one of the directors going bankrupt. Mixed martial arts gym franchise UFC Gym Australia and New Zealand, which at its peak had more than 10 fitness centres in…