Yet another building company has collapsed, becoming one more casualty amid an industry-wide crisis. NSW-based Rescon Builders Pty Ltd, which was trading as Rescon Granny Flats, went into voluntary administration at the end of June. As its name suggests, the builder specialised in granny flats and worked on projects across Sydney, and the NSW south…
Another lessor has commenced insolvency proceedings against SpiceJet (SG, Delhi International), with Celestial Aviation Services Limited (UK) lodging a petition at India’s National Company Law Tribunal (NCLT) to try to push the beleaguered carrier into the corporate insolvency resolution process (CIRP). NCLT records indicate Celestial filed its insolvency petition on June 3, 2023. The case,…
Auckland-based craft brewery, wholesale and hospitality business Brothers Beer has entered voluntary administration. Brothers Beer, which also operates seven venues, has cited Covid-19 lockdowns as significantly impacting its financial position in the move that is illustrative of the hardship brewing and hospitality groups have faced since the pandemic hit. Brothers Beer, which was founded in…
Plumbing company collapses: Victoria-based C & S Plumbing Pty Ltd goes bust owing $12million Victoria plumbing company collapses C & S Plumbing owes creditors $12.2million By Olivia Day For Daily Mail Australia Updated: 16:55 AEST, 8 August 2023 The director of a plumbing company that… Read the full article at: https://www.dailymail.co.uk/news/article-12382901/C-S-Plumbing-Pty-collapses-owing-12million-creditors.html
New Zealand craft brewer, wholesaler collapses – Inside FMCG Skip to content Read the full article at: https://insidefmcg.com.au/2023/08/08/new-zealand-craft-brewer-wholesaler-collapses/
Monday, 7 August 2023, 6:01 pmPress Release: PwC New Zealand Stephen White and John Fisk of PwC New Zealand were appointed as voluntary administrators of Brothers Beer Holdings Limited, Brothers Beer Limited and Brothers Wholesale Limited (the Group) on 7 August 2023. The Group operates a craft brewery and wholesale business that primarily supplies domestic…
Supplied Brothers Beer portfolio included venues at Onehunga Mall, City Works Depot and Orakei Bay Village. Aucklands Brothers Beer has been placed into voluntary administration citing Covid-19 lockdowns as significantly impacting its financial position. PwC voluntary administrator Stephen White said the craft brewery and wholesale business that operated seven hospitality venues had grown quickly, expanding…
The iconic Hampton Bowls and Community Club in southeast Melbourne has gone into voluntary administration, as members try to raise $150,000 to save it and they plan to do so without pokies. Hampton Bowls, which is the largest bowls club in Bayside, made the call a few years ago to abandon pokie machines and pursue…
ASIC has suspended the Australian financial services (AFS) licence of Probis Financial Services Pty Ltd (Probis) after it was placed into voluntary administration on 17 July 2023. The suspension includes a provision that requires Probis to continue as a member of Australian Financial Complaints Authority, with arrangements for compensating retail clients in place until the…
Construction firms across Australia are crumbling in record numbers and leaving hundreds of millions of dollars in unfinished projects. During the 2022-23 financial year, 2213 building companies went into administration, according to ASIC insolvency statistics which paint a bleak picture of the countrys housing situation. WATCH THE VIDEO ABOVE: Adelaide home buyers blindsided by construction…