Fashion house PAS Group will likely be acquired by private equity firm Queens Lane Capital by way of a deed of company arrangement. The deal will need to be voted through by the business shareholders, and will see brands such as Review, Black Pepper, Yarra Trial, Marco Polo and Breakaway continue. We are proud to…
Dominion Diamond Mines could pursue a form of federal bailout after the sale of its Ekati mine collapsed this month. Brendan Bell, a director of the company, said Dominion had spoken with a Crown corporation among others as it tried to avoid liquidation, which Bell said was now a real possibility. Bell made the comments…
PRESS RELEASE (Translation from the Italian original which remains the definitive version) Pininfarina S.p.A. announces the liquidation of the subsidiary Pininfarina Engineering S.r.l. Torino, 26 October 2020 – Pininfarina S.p.A. (the “Company“) announces that today the Extraordinary Shareholders’ Meeting of Pininfarina Engineering S.r.l. (“Pininfarina Engineering“) – fully owned by the Company – approved the voluntary…
Are you an owner or manager of a small business in Australia? If so, you may have felt the financial effects of the global pandemic COVID-19. We would love to know more about how you’re feeling during this time.
Owners of retail chain Riot Art & Craft have closed down all of its 56 stores after the company went into liquidation last week. Angry staff members said they were given no notice the stores were shutting down and were told via text message that they had lost their jobs last Monday evening. “All stores…
Advertisement: Singapore-based Avation PLC says they are nearly US$75 million out of pocket following the collapse and sale of Virgin Australia. The lessor had 13 planes on lease to Virgin Australia when the airline went into voluntary administration in April. Five of those planes have gone to new operators, three are back at Avation, and…
Virgin Australia’s new owners Bain Capital hope to reboot the airline’s inflight WiFi service as part of its new “customer service proposition”, although the shape of the WiFi packages and how they fit into the airline’s value-centric ‘hybrid’ model remains to be seen. Bain has severed Virgin’s contract with connectivity partner Gogo, which is in…
ONE of a string of failed companies which ran a group of cafes and restaurants is likely to be dissolved with no money for the creditors owed an estimated 665,000. Candy Experience Limited operated the Alcatraz cafe bars in Bournemouth, Poole and Camberley, as well as three New Forest pubs. Its director, Paul Podvoiskis, was…
Since 2003, corporate lawyers and insolvency accountants have benefited from a helpful ‘cheat sheet’ which answers the question, ‘how to tell if your business is insolvent‘. It comes in the form of a list that outlines 14 key indicators of insolvency. This list was established by the Courts as a general yardstick to identify if…
From family operations to national firms, COVID-19 has made things tough for Australian businesses. Thousands have been forced to reduce their business hours, cut down on staff or shut down completely. As the global pandemic causes revenues to fall despite the unstoppable march of bills and expenses, one word becomes more prominent for businesses that…