Jelle Barkema How concerned should policymakers be as UK business insolvencies have soared to 60-year highs? This phenomenon has been extensively covered in the media; with media outlets attributing the record-breaking numbers to a perfect storm of energy prices, supply-chain disruptions and the cost of living squeeze. Insolvencies are a popular measure of economic distress…
Victorian-based home builder Porter Davis is going into liquidation, while a second construction firm has entered voluntary administration. Key points: Porter Davis’ liquidators are looking for builders to take over customer contracts Dozens of public building projects are at risk in New South Wales and Victoria More than 600 employees across both companies have been…
Second building giant collapses in 24 hours leaving dozens of homes half-finished, 200 workers out of a job – and shattering the dreams of homeowners across the country Lloyd Group placed into voluntary administration on Friday Construction giant, Porter Davis Homes, buckled the same day By Aidan Wondracz and Freddy Pawle For Daily Mail Australia Published:…
Normal text sizeLarger text sizeVery large text size A large construction firm specialising in building schools and other government infrastructure is in administration, the second firm within 24 hours to collapse as mounting pressures in Australias building industry reach a crisis point. Civil design and building firm Lloyd Group, which has 59 projects under way…
As insolvencies in the UK hit their highest level since 2009, Colin Haig, immediate past president of R3, says there are too many directors seeking help too late. The latest figures by the UK Insolvency Service reveal there were 22,109 underlying corporate insolvencies in 2022, an increase of 57% from 2021s statistics. The numbers show…
Need to know When Brosa fell into voluntary administration on 14 December, about $10 million worth of orders remained undelivered Brosa customers are now divided into two categories those whose goods have been located, and those whose goods are likely gone for good Around 2790 Brosa customers are unlikely to receive their orders or a…
Conservative MPs have warned Jeremy Hunt that refusing to cut taxes in the spring budget would spell the end of an era for the party in government, amid disagreement over the latest warning about Britains gloomy economic forecast. In a showdown with backbenchers on Tuesday night, the chancellor was told that voters were lacking hope…
Creditors haveoverwhelmingly voted to wind up collapsed furniture retailer Brosa one month after the company fell into voluntary administration and sold off assets to Kogan (ASX: KGN) for $1.5 million. The decision to place the company into liquidation was recommended by KordaMentha administrators Richard Tucker and Michael Korda, who noted Brosa did not receive a…
Award-winning building company collapses after just six years in business – with huge building projects scrapped and tradies owed thousands Delco Building Group has gone into liquidation The company owes thousands to ATO and contractors It follows a string of construction company collapses By Sarah Liversidge For Daily Mail Australia Published: 14:45 AEDT, 2 February…
Karratha ratepayers are set to be more than half a million dollarsout of pocket as Virgin Australia is unable to pay a longstanding debt. Key points: Virgin Australia owes the City of Karratha more than $500,000 in airport fees The council hopes to be paid about 10 per cent of the total debt The debt…