High profile drone maker Swoop Aero has entered voluntary administration, one of its founders, Eric Peck announced today. The administrators are BPS Reconstruction and Recovery in melbourne, and were appointed on October 14, for Swoop Aero associate company Kookaburra Aerospace as well. “This was a strategic decision made by our board to protect the long-term interests…
A $21m hearing healthcare company has gone bust, blaming a fallout with a key supplier for its woes. ASX-listed Nuheara Limited, which specialises in a wireless earbud that allows customers to augment their hearing, announced its move into voluntary administration late on Wednesday afternoon, appointing KPMG administrators to take control of the firm. “The decision…
When Rex expanded its operations into the Golden Triangle routes between sydney, melbourne and brisbane, it knew it was an ambitious plan. But if the risk paid off, the financial windfall would be considerable. The Sydney-Melbourne route is one of the most lucrative in the world and delivers our two biggest airlines, Qantas and Virgin,…
The Carlton Club, on Bourke Street in the CBD, and the Windsor Castle, an iconic spot with a lime green exterior and pink elephants on the roof, entered voluntary administration on November 27. “The past few years have been incredibly challenging as we navigate the ongoing impacts of the Covid-19 pandemic on both the Windsor…
brisbane-headquartered battery manufacturer Redflow has entered voluntary administration after failing to secure the capital needed to upscale its X10 battery for larger MWh projects. August 23, 2024 Ev Foley Brisbane-headquartered zinc-bromine flow battery producer Redflow has entered into voluntary administration after it was unable to attract capital to scale up its X10 battery to target…
An Australian building giant behind some of the nation’s biggest developments, including a 41-residential tower on Chevron Island on Queensland’s gold coast, has entered voluntary administration. Bensons Property Group Pty (BPG) announced yesterday that it had made the “difficult decision” to appoint Craig Shepard and Sebastian Ham of Korda Mentha as voluntary administrators. The company…
A major Australian property group has gone into voluntary administration, in another blow to the construction industry. Bensons Property Group announced on Friday that its team made the “difficult decision” to appoint Craig Shepard and Sebastian Ham of Korda Mentha as voluntary administrators of the business. BPG was founded in 1994 by Elias Jreissati and…
A perth-based wireless earbud company, voted one of the best inventions of 2020, has appointed a voluntary administrator. Nuheara announced to the ASX it had been expecting a $2.5 million investment known as a convertible note from audio company Realtek Semiconducter Corporation that did not eventuate. It was also expecting a commercial and royalty agreement…
Club Rose Bay in sydney’s eastern suburb has entered into voluntary administration. According to Australian Securities and Investments Commission documents, the long-standing RSL club appointed Hugh Armenis and Jason Lloyd Porter of SV Partners as administrators on 15 August, before a first meeting with creditors was held on 27 August. Despite this, the club went…
Two popular venues in melbourne have gone into voluntary administration as teams work to find a way to keep the “much-loved, iconic” venues afloat. Tracey Lester, the owner of the companies behind the Carlton Club and the Windsor Castle Hotel, has hired Cor Cordis administrators Rachel Burdett and Shaun Matthews to restructure the financial affairs…