This article was co-authored with Queenie Mok. In our earlier Legal Update, we outlined the findings of the Parliamentary Joint Committee on Corporations and Financial Services Final Report on Corporate Insolvency in Australia. Recommendation 3 of the Report was a comprehensive review to consider and make recommendations on the options to enhance public interest…
By Olivia Day For Daily Mail Australia Published: 12:33 AEDT, 4 January 2024 | Updated: 13:45 AEDT, 4 January 2024 A major brand manufacturer behind some of Australia’s most-used cleaning products has collapsed with up to 120 staff now unemployed. Hiro Brands owns a range of c… Read the full article at: https://www.dailymail.co.uk/news/article-12924695/Hiro-Brands-Major-Australian-cleaning-product-company-collapses.html
Australian brand manufacturer Hiro Brands has entered voluntary administration, leaving 120 staff without work. The brand, responsible for a range of well-known Australian products including cleaning, personal care and cosmetics products, entered administration on January 2. Hiro Brands manufactures, distributes and markets popular brands including Organic Choice, Orange Power, Aware Sensitive, Trix, ulta3, MUD, Billie…
A leading manufacturer behind Australia’s most popular household cleaning products, skincare and cosmetics has collapsed, resulting in the sacking of 120 staff. Hiro Brands produces a range of products including Orange Power, Trix, Mud Beauty and Billie Goat skin care. The company entered voluntary administration on January 2, with KPMG Australia’s David Hardy, James Dampney…
The number of corporate insolvencies ticked back up to pre-pandemic levels last year, with companies in the services sector, hospitality and construction among the hardest hit, new figures show. According to the latest insolvency and restructuring statistics from accounting firm Deloitte Ireland, there were 663 corporate insolvencies in 2023 representing a 25% increase on 2022.…
Reality TV star Teddy Briggs’ elaborate lifestyle appears to be crumbling, with fresh claims his e-commerce business was forced into liquidation, owing $600,000 to creditors. The former Love Island star, who recently appeared on Channel 10’s Amazing Race: Celebrity Edition, launched e-commerce business EcomConnect in 2020. The business promised ready-made online stores for clients to…
Recent news reports have highlighted that the number of corporate insolvencies has continued to rise during 2022 and 2023, with the retail sector being particularly affected. Many companies are struggling to meet the demands of repaying government support provided during lockdown, increased running costs and high wages coupled with lower demand as a result of…
The new year has started much as 2023 ended with another brewery entering voluntary administration. Wayward Brewing and the Local Drinks Collective formed with Batch Brewing Co in October 2022 have appointed administrators with the intention of restructuring the business and retaining ownership. Wayward was launched by Peter Philip in 2012, going on to build…
The gifting is done. Some were successful, others less so the wrong color, size, redundant, too impulsive, not suitable for re-gifting. US consumers return about 20% of all online purchases and the post-holiday period is when the massive, but often unseen, returns logistics industry the reverse supply chain goes into overdrive. According to the National…
Workspace One Director Accused of Misappropriation Amidst Company Liquidation When Kathryn Arnold, director of Sydney-based Workspace One Pty Ltd, a construction company specialising in office space refurbishments, transferred $861,000 to her personal bank account, she set in motion a chain of events that left the company in liquidation and its creditors in a lurch. The…