In a worrying trend for the Australian business landscape, thousands of companies have vanished over the past year, and experts warn that the situation is poised to deteriorate even further. Among the casualties is E-Mersion Media, a melbourne-based tech start-up that recently went into liquidation with debts exceeding $12 million. The liquidator’s report reveals that…
A small business has been left with no other choice but to go into liquidation, partially blaming its financial troubles on society’s waning interest in building ‘authentic’ connections with each other. The Source Bulk Foods, Australia’s largest specialised bulk food retailer, has more than 60 stores all over the country. But it lost one of…
A luxury transport company has collapsed, owing millions of dollars to creditors and the tax department with workers also claiming they have been left unpaid. Brunel Chauffeur Drive and Limousines Pty Ltd went into liquidation on July 13. The company offered premium passenger transport in every state capital as well as the gold coast, the…
Several distributors are fighting to get their hands on the database of sydney-based accessories retailer and manufacturer Company Syntricate Asia Pty Ltd that was placed into liquidation last week, after a split between husband and wife shareholders. ChannelNews understands the business that turned over around $1.4 to $1.5M a month in smartphone accessories had been…
More than $600,000 is owed to suppliers and tradies caught up in the liquidation of rich-list renovator Sasha de Bretton’s Million Dollar Makeovers. Early numbers from liquidators Hall Chadwick filed with the corporate regulator list more than 70 unsecured creditors believed to be owed a total of $619,700. It includes $61,555 owed to the Australian…
Unsecured creditors of construction company York Civil are unlikely to see any returns from the business. Creditors voted unanimously to liquidate the company at its second creditors’ meeting on Monday afternoon. In a report provided to creditors, the company’s administrators, Martin Lewis and Timothy Mableson from accounting firm Ferrier Hodgson blamed York Civil’s failure on…
The company which owns a perth hotel where three people died in a fire has gone into liquidation. A blaze at the New County Hotel on January 2 claimed the lives of sisters Donna Janse van Rensburg and Sharon McLean from Aberdeen, and Keith Russell, from Edinburgh. An investigation into the cause of the fire…
Investigations into perth-based Corporate Computers IT, which traded as Base IT Australia and fell into liquidation in March 2016, have found evidence the company may have traded while insolvent for years before its collapse. Corporate Computers IT was liquidated last March with debts of $1.4 million to the Australian Taxation Office. Kimberley Wallman from liquidator…
Performers and musicians who worked on a recent production of Little Shop of Horrors have been left unpaid, despite the show been staged months ago. – Advertisement – The local production which was at The Regal Theatre in late 2021 hired a cast of local performers to bring the much-loved musical to life, they were hired alongside…
The ‘tech wreck’ sweeping through the technology sector has hit an Australian dad not once, but twice. A 42-year-old father-of-two has been made redundant two times in the past six months as the IT meltdown continues to wreak havoc. Rafael*, who preferred to remain anonymous, lost his job in August last year after his company…