Category Archives: Liquidation

Okami Japanese all-you-can-eat restaurant chain plunges 16 outlets into administration in NSW, Victoria, ACT a – Daily Mail

By Ashley Nickel For Daily Mail Australia Published: 09:16 AEDT, 21 December 2023 | Updated: 09:16 AEDT, 21 December 2023 Popular all-you-can-eat Japanese restaurant chain Okami has put 16 of its stores in Victoria, New South Wales, South Australia and the ACT in voluntary admi… Read the full article at: https://www.dailymail.co.uk/news/article-12887225/Okami-Japanese-eat-restaurant-chain-plunges-16-outlets-administration-NSW-Victoria-ACT-South-Australia.html

Appu Hotels out of insolvency process – The Hindu

Appu Hotels Ltd., which owns and operates Le Meridien in Chennai and Coimbatore, is out of the Corporate Insolvency Resolution Process (CIRP) as the National Company Law Tribunal, on Wednesday, gave nod to promoter Palani G. Periasamys settlement proposal to the creditors. In 2020, the National Company Law Tribunal (NCLT) in Chennai admitted an insolvency…

Beloved chain puts venues in administration – Daily Telegraph

A popular Japanese restaurant has put over a dozen of its venues into voluntary administration across the country, with inflation and pandemic costs being blamed. Eight Okami restaurants in NSW have been placed into administration along with five in Victoria, two in the ACT and one in South Australia. The all-you-can-eat restaurant chain has more…

Which Australian businesses are facing liquidation? | Mortgage Professional Australia – Mortgage Professional Australia

The Australian Securities and Investments Commission (ASIC) has released its latest annual statistics of reports lodged by registered liquidators about Australian corporate insolvency, revealing small businesses are still experiencing the reverberations of the COVID-19 pandemic. Statistics show small to medium-sized businesses (SME) continue to dominate in the number of reported corporate insolvencies. Of the reports…

Corporate insolvencies reach 14-year high – East Midlands Business Link

A perfect storm of economic struggles and a covid hangover have forced annual corporate insolvency figures into a 14-year high, with record numbers of businesses now turning to an insolvency process to help resolve significant financial issues. This is according to the Midlands branch of insolvency and restructuring body R3 and follows latest statistics published…

Beloved chain puts venues in administration – news.com.au

A popular Japanese restaurant has put over a dozen of its venues into voluntary administration across the country, with inflation and pandemic costs being blamed. Eight Okami restaurants in NSW have been placed into administration along with five in Victoria, two in the ACT and one in South Australia. The all-you-can-eat restaurant chain has more…

New report shows corporate insolvencies at 14-year high | TheBusinessDesk.com – The Business Desk

Economic challenges and lingering effects of the COVID-19 pandemic have led to a 14-year high in annual corporate insolvency figures, as businesses increasingly resort to insolvency processes to address significant financial difficulties. The Midlands branch of R3, an insolvency and restructuring body, reports this trend based on the latest statistics from the Insolvency Service. In…

Major gym chain collapses owing $15m – news.com.au

An embattled gym chain with businesses all across Australia has collapsed six months after external administrators first took over the business amid a protracted legal fight, with one of the directors going bankrupt. Mixed martial arts gym franchise UFC Gym Australia and New Zealand, which at its peak had more than 10 fitness centres in…

Japanese restaurant chain Okami puts 16 venues into voluntary administration – 7NEWS

A popular all-you-can-eat Japanese restaurant business has put 16 of its venues across Australia into voluntary administration, with its founder citing delayed costs from the pandemic and rising inflation. Okami businesses at Braddon and Mawson in the ACT; Cronulla, Camden, Dubbo, Marrickville, Sutherland, Pennant Hills, Penrith, and Wagga Wagga in NSW; Camberwell, Ballarat, Hampton, Melton,…

Resolution professional calls for EOI for troubled GVK Gautami Power – Business Standard

The resolution professional (RP) for the troubled GVK Gautami Power Ltd, a 471 MW capacity gas-based power plant in Kakinada district of Andhra Pradesh, has sought Expression of Interest (EOI) from corporates, finance firms, and Asset Reconstruction Companies (ARCs). The financial creditor, Edelweiss Asset Reconstruction Company Limited, had filed a petition to initiate a Corporate…