Monday, 7 August 2023, 6:01 pmPress Release: PwC New Zealand Stephen White and John Fisk of PwC New Zealand were appointed as voluntary administrators of Brothers Beer Holdings Limited, Brothers Beer Limited and Brothers Wholesale Limited (the Group) on 7 August 2023. The Group operates a craft brewery and wholesale business that primarily supplies domestic…
Supplied Brothers Beer portfolio included venues at Onehunga Mall, City Works Depot and Orakei Bay Village. Aucklands Brothers Beer has been placed into voluntary administration citing Covid-19 lockdowns as significantly impacting its financial position. PwC voluntary administrator Stephen White said the craft brewery and wholesale business that operated seven hospitality venues had grown quickly, expanding…
The iconic Hampton Bowls and Community Club in southeast Melbourne has gone into voluntary administration, as members try to raise $150,000 to save it and they plan to do so without pokies. Hampton Bowls, which is the largest bowls club in Bayside, made the call a few years ago to abandon pokie machines and pursue…
ASIC has suspended the Australian financial services (AFS) licence of Probis Financial Services Pty Ltd (Probis) after it was placed into voluntary administration on 17 July 2023. The suspension includes a provision that requires Probis to continue as a member of Australian Financial Complaints Authority, with arrangements for compensating retail clients in place until the…
Construction firms across Australia are crumbling in record numbers and leaving hundreds of millions of dollars in unfinished projects. During the 2022-23 financial year, 2213 building companies went into administration, according to ASIC insolvency statistics which paint a bleak picture of the countrys housing situation. WATCH THE VIDEO ABOVE: Adelaide home buyers blindsided by construction…
Getty Images The firm of one of Wales’ most famous fashion designers who has dressed stars like Beyonc and Jennifer Lopez, has gone into liquidation. Julien MacDonald’s company hit trouble during the pandemic and officially went into liquidation on 26 July. It means employees have been sacked and liquidators have had to sell all stock.…
Aug 4, 2023 4.02pm The corporate regulator is suing a former director of collapsed wealth firm Dixon Advisory for allegedly failing to properly consider the interests of creditors, including thousands of clients. The Australian Securities and Investments Commission alleges that Paul Ryan breached his duties as a director when he made decisions the regulator claims…
The parent company of embattled health food brand Bounce known for its range of protein balls will have a new home, after it was bought out by another health company. Last month, documents revealed that Natural High Co Pty Ltd which operates Bounce Foods entered administration due to a heavy debt burden. But on August…
A residential home builder based in Ballarat has recently entered voluntary administration after nearly three decades in the industry. The company, Bond Homes, had a team of 20 full-time staff who have been paid their full entitlements. However, fixed contracts combined with rising materials costs and labor shortages have led to the companys downfall. Bond…
The parent company of embattled health food brand Bounce known for its range of protein balls will have a new home, after it was bought out by another health company. Last month, documents revealed that Natural High Co Pty Ltd which operates Bounce Foods entered administration due to a heavy debt burden. But on August…