2018 looks set to be another hard year for the retail sector, with news a retailer operating for almost six decades is the latest casualty of the industry malaise. Kangaroo Tent City & BBQs, an NSW manufacturer and retailer of camping and outdoor gear, announced its collapse on 2 February. The company, which operates six…
The Australian Taxation Office bid to wind up the company behind Damian Griffiths’ Les Bubbles restaurant has been dismissed after the company went into liquidation on Thursday. The matter was heard briefly in The Federal Court in Brisbane on Friday where Registrar Katie Lynch dismissed a wind-up application filed by the ATO in November last year.…
Petra Hair Care has collapsed into liquidation after 52 years in business. The chain started business as a hairdressing salon in Melbourne’s Elizabeth Street in July 1966 where it became apparent there was a market for selling hair care to the home. Petra Hair Care grew to five stores across Melbourne. Photo: Stocksy Soon the salon…
110 reading now The Australian Tax Office bid to wind up the company behind Damian Griffiths’ Les Bubbles restaurant has been dismissed after the company went into liquidation on Thursday. The matter was heard briefly in The Federal Court in Brisbane on Friday where Registrar Katie Lynch dismissed a wind-up application filed by the ATO in…
The company overseeing The Outdoor Furniture Specialists chain has gone into voluntary administration amid increasingly challenging times for the retail sector as online competition escalates and more international entrants shore up. The Brisbane-based firm is the head franchisor for 46 stores in Australia and claims to be the largest specialist outdoor furniture retailer in the country. The company…
43 reading now The Australian Tax Office bid to wind up the company behind Damian Griffiths’ Les Bubbles restaurant has been dismissed after the company went into liquidation on Thursday. The matter was heard briefly in The Federal Court in Brisbane on Friday where Registrar Katie Lynch dismissed a wind-up application filed by the ATO in…
ET Bureau| Feb 01, 2018, 12.23 AM IST Under Section 29A of the Insolvency and Bankruptcy Code promoters of any defaulting company are ineligible to be a resolution applicant. NEW DELHI: The government is considering amending the Insolvency and Bankruptcy Code (IBC) to allow a person who acquires an insolvent asset that has a subsidiary…
Dr M.S. Sahoo, chairperson of Insolvency and Bankruptcy Board of India. Photo: Indranil Bhoumik/Mint New Delhi: Insolvency resolution process seeks to ensure that a company exists and the intention is not to sell it in pieces, Insolvency and Bankruptcy Board of India (IBBI) chairperson M.S. Sahoo said on Wednesday as he asserted that liquidation is…
The Jersey arm of the UK’s second-largest construction company is being plunged into liquidation after buckling under a £200 million debt pile. The English domiciled Carillion PLC went into liquidation in 15 January 2018. Jersey law firm Carey Olsen have been appointed as the liquidators. They appeared in the Royal Court on Friday 26 January.…
Image: Shutterstock The nervousness amongst the taxpayers from the Budget 2018 must have belied by now, but at the same time many hopes and expectations remain unfulfilled. But isnt that the case with all the post Budget euphoria. Or is it a case of unreasonable expectations? Two such cases are that of companies undergoing…