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

Liquidation

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

Liquidation

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…

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

Liquidation

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…

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

Liquidation

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

Liquidation

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…

Popular eatery Okami puts 16 venues into voluntary administration – SmartCompany

Liquidation

Dishes at an Okami restaurant. Source: Okami / Facebook Sixteen restaurants managed by the all-you-can-eat Japanese restaurant business Okami have entered voluntary administration, as its founder contends with delayed COVID-era costs and rising inflation. Documents listed by the Australian Securities and Investments Commission (ASIC) show businesses corresponding with Okami locations across Victoria, New South Wales,…

Dainton emerges from Administration after DOCA approved Brews News Australia – Brews News

Liquidation

Creditors of Daicom Australia Pty Ltd trading as Dainton Beer have voted to accept a Deed of Company Arrangement which will see the company emerge from Administration. Under the DOCA proposal creditors, including the ATO, will receive 10c in the dollar. Dainton entered Voluntary Administration last month saying it needed to financially restructure as a…