Aussie fashion brand Colette by Colette Hayman has been officially sold out of voluntary administration, with a new owner announced today but the businesss bricks-and-mortar presence has been cut by a third. The new major shareholder and executive chairman, revealed in an announcement this morning, is ex-Myer and Edcon CEO Bernie Brookes, while John Skellern…
Virgin Australia has slashed a string of regional routes from its network as part of its restructure after it was crippled by the coronavirus pandemic. Under its new US owners Bain Capital, who took over the aviation company in late June after it went into voluntary administration, the airline has cut flights from Ayers Rock,…
By Wayne Robinson | 9 September 2020 The number of Australian businesses going into liquidation or administration plummeted to way below normal levels in July and August, leading to fears of the true state of many businesses, with printers warned to ensure they keep a tight rein on credit terms. Warning: keep a close eye…
BIGAMBUL Limited has been placed in voluntary administration. The entity, which is headquartered in King Scrub, was placed in the hands of Mackay Goodwin’s Thyge Trafford-Jones on August 19. According to minutes of the creditors meeting on August 28, a preliminary review “failed to identify any asset of the company”. The minutes said the Australian…
A development company that once boasted a $3.5bn pipeline of apartment projects in southeast Queensland is exiting the state amid continuing uncertainty over the future of the construction sector. Urban Construct Qld and associated companies are being wound up voluntarily by its shareholders with a liquidator put in charge of the company’s affairs. The company…
A development company that once boasted a $3.5bn pipeline of apartment projects in southeast Queensland is exiting the state amid continuing uncertainty over the future of the construction sector. Urban Construct Qld and associated companies are being wound up voluntarily by its shareholders with a liquidator put in charge of the company’s affairs. The company…
The Australian Securities and Investments Commission is monitoring companies linked to the former director of a failed Coast-based training firm which pocketed almost $80 million in government funding before its collapse. The advice was given to Fairfax MP Ted O’Brien, who had sought further information from the regulator about its treatment of SmartCity Vocational College,…
The Australian Securities and Investments Commission is monitoring companies linked to the former director of a failed Coast-based training firm which pocketed almost $80 million in government funding before its collapse. The advice was given to Fairfax MP Ted O’Brien, who had sought further information from the regulator about its treatment of SmartCity Vocational College,…
As expected, Virgin Australias creditors have voted in favour of Bain Capitals takeover proposal for the airline. Creditors convened earlier today to cast their vote, with Virgins administrators recommending all along that Bains proposed deeds of company arrangement (DOCAs) would result in the best outcome for them and the airlines future as it emerges from…
By Wayne Robinson | 4 September 2020 Wide format print business Craftech is in voluntary administration, pulling the pin on a scheduled auction of its equipment which was to have taken place through Liquid Asset Management. Auction pulled: Craftech now in voluntary administration Craftech was bought three years ago by current owner Peter Friend-Ngui formerly…