Australian Fashion Labels is having urgent talks with a potential buyer after filing for voluntary administration on 6th January. Brands under the Group include Finders Keepers, Keepsake, The Fifth Label and C/MEO Collective. The business has appointed administrators Brett Lord and Marcus Ayres from Duff & Phelps to complete the process. First and foremost, were…
6one5 Retail Consulting head Bill Rooney believes now is the time to start preparing for March 28. How Fashion Retail Should Prepare for the Stimulus Packages Ending The end of the stimulus package on the 28th March 2021 couldnt occur at a worst time for fashion retailers coming at the end of the traditional slow…
Sydney-based real estate developer Dyldam is now fully under administration, with HLB Mann Judd and McGrathNicol seated at either side of the table. HLB Mann Judd is managing the voluntary administration process while McGrathNicol is protecting creditor interests. Setting the context: Dyldams financial struggles began in early 2019, as reported by the Australian Financial Review…
A marginal increase in corporate insolvencies was recorded in Ireland in 2020, according to the latest insolvency statistics published by Deloitte. The total number of corporate insolvencies recorded in Ireland in 2020 was 575, representing a marginal increase of just 1% from 2019, when the total number recorded was 568. Commenting on the figures, David…
Xinja surprised shareholders and customers when it announced in mid-December it would close all bank accounts and terminate its banking license. The neobank had promised to shake-up the banking industry and blamed COVID-19 and a tough capital raising environment for the decision. However, The Age and Herald revealed the bank had pinned all hopes on…
India has recently extended the suspension of insolvency proceedings by another three months until March 25, as corporates are struggling to cope with the pandemic. While the measure is bound to lighten their burden, policymakers will need to plan to prevent the resolution process’s snarl-up. On March 24, 2020, the minimum threshold for default under…
Xinja surprised shareholders and customers when it announced in mid-December it would close all bank accounts and terminate its banking license. The neobank had promised to shake-up the banking industry and blamed COVID-19 and a tough capital raising environment for the decision. However, The Age and Herald revealed the bank had pinned all hopes on…
The nation’s number two carrier collapsed into administration in April last year after the COVID-19 pandemic and associated border closures led to steep falls in domestic and international travel. The VAIH shell company also went voluntary administration but was revived shortly after US-headquartered Bain took control of Virgin in November following a fierce bidding war…
NEW DELHI : Unviable companies liquidated under the Insolvency and Bankruptcy Code (IBC) far outnumbered those rescued since the new bankruptcy framework came into force four years ago, indicating the challenges facing the economy. Official data showed that almost in every quarter since January 2017, the number of businesses that were ordered to be liquidated…
The nation’s number two carrier collapsed into administration in April last year after the COVID-19 pandemic and associated border closures led to steep falls in domestic and international travel. The VAIH shell company also went voluntary administration but was revived shortly after US-headquartered Bain took control of Virgin in November following a fierce bidding war…