Online grocery business Supie has gone out of business after being placed in voluntary administration. The Auckland-based grocer was placed into administration by its sole director after a key investor stopped funding the business, which began as a start-up two-and-a-half years ago. PWC voluntary administrator Richard Nacey says the company, which employed 120 people, has…
Supplied Supie has gone into voluntary administration. An online supermarket that was started to create competition in the grocery sector has gone into voluntary administration. Richard Nacey and Stephen White, of PwC New Zealand, were appointed administrators of Supie Limited on Monday by the director and founder Sarah Balle. According to the National Business Review,…
Supie founder Sarah Balle. Online grocery startup Supie, which raised millions from investors to take on the big supermarket chains, has gone into voluntary administration. The business has approximately 120 staff. Voluntary administrator Richard Nacey said: The sole director Advertisement Advertise with NZME. Advertisement Advertise with NZME. Read the full article at: https://www.nzherald.co.nz/business/online-grocery-challenger-supie-goes-into-voluntary-liquidation/CZTMMJFO5RBCZFUKH7VKXUEZ6M/
AIMAN AMERUL MUNER/Stuff Kitchens Direct, on King St in Timaru, has been put into liquidation. A long-running Timaru kitchen business has been placed into liquidation, along with three other companies linked to it, but the man behind them says creditors and customers will be looked after. Kitchens Direct (NZ) Ltd, which traded as Kitchens Direct,…
Member Article Corporate Insolvencies Fall Not A Sign Of Improving Economic Conditions – R3 A sharp drop in the number of corporate insolvencies across England and Wales last month doesnt mean that things are going to get easier for North East businesses any time soon. Thats the view of the North East chair of insolvency…
ASIC has prosecuted 100 individuals from 1 January 2023 to 30 June 2023 for failing to assist registered liquidators. These prosecutions follow the failure of company officers and other individuals to comply with key governance obligations to provide registered liquidators with access to company books and submit a report on company activities and property (ROCAP)…
This weeks TGIF summarises the Federal Court of Australias recent decision granting leave to proceed against a company despite the appointment of a small business restructuring (SBR) practitioner under Pt 5.3B of the Corporations Act 2001 (Cth) (Corporations Act). Key takeaways The statutory stay available under the SBR regime, introduced in 2021, has been approached…
Sara Lee, a renowned dessert brand, has gone into voluntary administration. FTI Consulting was appointed as a voluntary administrator. The Sara Lee business will be restructuring and selling, but it will continue operations as usual. With its longstanding manufacturing history in Australia, there is hope that this will continue. Administrator Vaughan Strawbridge said that there…
David Alexander A nearly five per cent increase in corporate insolvencies in the past year is likely to lead to a rise in personal insolvencies in the next six to 12 months, according to Gilson Gray. The latest figures from the Accountant in Bankruptcy (AiB) show there were 283 corporate insolvencies in July to September…
The deluge of corporate insolvencies that some had predicted would follow the Covid-19 pandemic has yet to materialise despite a steady rise in the number of business failures over the past year, according to insolvency experts. In a new report published on Wednesday, Interpath Advisory, the Dublin-based restructuring and corporate advisory firm founded last year…