Image via TuchuzyWords by Tori Mathison Another blow to the retail industry. Designer brand mecca Tuchuzy has announced that its entered into voluntary administration. The news comes after a startling number of Australian stores have been buckling under the coronavirus-related pressure on the retail market. The Bondi fixture has been an iconic Sydney fashion destination…
Equestrian Australia has been placed into voluntary administration. Picture: Sarah Reed Equestrian Australia has been placed into voluntary administration after Sport Australia withdrew funding for the sport, which has delivered 12 Olympic medals, including six golds. In a shock announcement on Tuesday, which caps a tumultuous 18 months for the national sporting body, the organisation…
Melbourne-based prefab home builder Archiblox was more than $5.5 million in debt when it went into voluntary administration in February, and may have been trading insolvent for more than 18 months. These were some of the findings in a preliminary report from liquidators Vince & Associates which was handed to ASIC on May 22. The…
Bowral two-hat restaurant Biota Dining was weighed down with liabilities of $761,708 and had just $698 in the bank when it slipped into liquidation. A report from insolvency firm SV Partners paints a bleak picture for Viles Group (formerly trading as Biota Dining), with employees owed $288,368, trade creditors $207,283, the ATO $166,057 and related…
Are you looking for company liquidation support in Noosa? At Company Liquidation Noosa we understand that insolvency hurts. It is a stressful time that only feels worse knowing that there is no time to rest and reflect, because company directors must act as soon as possible when faced with insolvency or risk a range of…
On Wednesday 20 May, the Department for Business, Energy and Industrial Strategy (BEIS) introduced the new Corporate Insolvency and Governance Bill. The measures in this Bill will relieve the burden on businesses during the coronavirus (COVID-19) outbreak and allow them to focus all their efforts on continuing to operate. What this means for businesses The…
The retail apocalypse claims yet ANOTHER victim, as beloved Australian designer brand Tuchuzy shuts its doors after 25 years Tuchuzy will go into voluntary administration, it was announced on Wednesday The Bondi store operated for 25 years and sold top brands like Ksubi and Bassike It comes after Australia’s retail sector suffered its worst slump…
OVERVIEW On 20 May 2020, the Corporate Insolvency and Governance Bill (the Bill) was introduced to the House of Commons for its first reading, with the aim of completing all its stages in the Commons and progressing through the House of Lords by late June or early July. The Bill has the purpose of introducing…
The COVID-19 pandemic situation is challenging the economies of the world, including an impact on large and small businesses. Despite the many relaxations granted by the government of India and various state governments, the impact on businesses is deep. While some large businesses have cash reserves and resources to bide them by, the impact on…
Organic Dairy Farmers of Australia has gone into voluntary administration following increased pressure from the coronavirus pandemic. The dairy co-operative was taken over by Scott Andersen and Ivan Glavas of Worrells Solvency and Forensic Accountants on May 15. Based in Geelong, Organic Dairy Farmers of Australia is the largest producer of certified organic milk in…