A total of 329 corporate insolvencies were recorded during the first half of the year, an increase of 30% from the same period in 2022 (253), according to Deloitte. Insolvencies also increased on a quarterly basis, jumping from 143 in the first quarter to 186 in the second quarter, the highest recorded level since Q1…
Homeowners and tradies have been left reeling by the news that yet another construction firm has collapsed, leaving them thousands out of pocket. On Monday, NSW building company Allura Homes Pty Ltd went into liquidation. The firm, which was based on Sydneys lower north shore in Lane Cove, had 39 residential projects underway, which have…
Victorias largest privately owned plumbing company has gone into liquidation just months after attempting to restructure the business. Richstone Australia Group Pty Ltd, and several other related companies, officially collapsed on June 19 according to documents filed with the Australian Securities and Investments Commission (ASIC). A total of 150 people were employed by the plumbing…
As we enter the second half of 2023, the business landscape is looking at an increasing trajectory of insolvencies and liquidations as a result of the economic storm in recent years. National figures released by The Insolvency Service show a rise in liquidations in more than eight out of ten authority areas across the UK…
Melbourne-based residential builder Kleev Homes Pty Ltd has been “wound up” this month, with liquidators appointed to dissolve the company. The decision to end the company was made at a general meeting of its members on July 5, according to a notice published by the Australian Securities and Investments Commission. Dozens of construction companies have…
Kleev Homes goes into liquidation with Melbourne construction company owing $3.3million following collapse Kleev Homes Pty Ltd is now defunct The company owes $3.3 million 100 tradies are left unpaid By Zak Wheeler For Daily Mail Australia Published: 10:21 AEST, 25 July 2023 | Updated: 10:57 AEST, 25 July 2023
Cafe Day Global, the main operator of widely-known cafe chain Cafe Coffee Day, has been admitted for bankruptcy proceedings, a latest media report said on Monday. The development comes after IndusInd Bank filed a plea with the NCLT in this regard, an Economic Times report said. The report adds that the Bengaluru chapter of National…
The number of Scottish companies filing for administration has seen a significant increase, reflecting the impact of rising costs and economic uncertainty. According to a study conducted by Interpath Advisory, based on notices in The Gazette, Scotland witnessed a total of 23 companies falling into administration in Q2 2023, compared to just 3 companies in…
Trouble-plagued builder Modco Residential has gone into voluntary administration blaming unprecedented industry challenges and intense media scrutiny. Director Damien Clancy said in a statement released on Monday that it was a moment of profound sadness for the fledgling company that was launched to great fanfare less than two years ago. Cynthia Lu and Yusuf Khan…
Wildlife lovers have been asked to dig deep and donate to a beloved marine park forced into voluntary administration, in a last-ditch effort to keep the business alive. Dolphin Marine Conservation Park in Coffs Harbour, one of only two facilities that take in and care for injured dolphins in Australia, has called for urgent support…