MUMBAI : The National Company Law Tribunal (NCLT) on Thursday admitted Future Lifestyle Fashions for a corporate insolvency resolution process under Indias insolvency code. The tribunal appointed Ravi Sethia as the interim resolution professional to take over the management of the company. State-owned Bank of India, the lead financial creditor had moved the NCLT under…
Member Article Dip In Quarterly Corporate Insolvencies Fails To Mask Wider Challenges For North East Firms – R3 A small quarter-on-quarter dip in the number of corporate insolvencies in the first three months of the year shouldnt mask the significant financial and cashflow problems facing many North East business owners. Thats the view of Chris…
The 2020 decision by the founders of BoozeBud to buy back their online drinks retailer from Japanese brewing giant Asahi Beverages has not panned out as planned, with voluntary administrators taking control of the business on Tuesday and shutting down sales. A majority of the board members had resigned over the recent months and the…
Popular Australian alcohol retailer and delivery service Boozebud has collapsed. The company, which stocks and delivers alcohol brands across the country, announced the news in a statement on its website on Tuesday, advising it was no longer accepting orders. The directors of Boozebud Holdings Ltd and Pocko Pty Ltd appointed Michael Brereton and Sean Wengel…
Nicola Banham, R&I Director at accountancy firm Azets, belives the retail, hospitality, hotels, restaurants, and manufacturing sectors are most at risk of insolvency (Image: Deep South Media) Business failures are set for a record high this year, an expert has warned. The warning comes as the latest quarterly insolvency statistics for January to March 2023…
The number of corporate insolvencies in the North East has fallen slightly in the first three months of the year but remains at worrying levels, industry experts say. Official insolvency figures revealed a 3.7% quarter-on-quarter fall in the number of corporate insolvencies across England and Wales between the final three months of last year (5,969)…
This article covers a developing story. Continue to check back with us as we will be adding more information as it becomes available. Financial troubles have reached the breaking point for Indian low-cost carrier Go First. As reported by The Times of India, the airline has filed initial bankruptcy proceedings with the National Company Law…
Daily News View All News 02 May 2023 Go2 People Ltd. (GO2:ASX), the Australia-based provider of vertically integrated recruitment and training services, announced that it has entered voluntary administration. The announcement comes after the group announced last week that its securities would be suspended from quotation immediately under Listing Rule 17.2, at the request of Go2,…
Go First (G8, Mumbai International) has filed for insolvency at the National Company Law Tribunal in Delhi, blaming Pratt & Whitneys defective and failing engines for a cash-flow crisis, it said in a two-page statement on May 2. According to local media, it has suspended its flights for May 3 and 4. The low-cost carrier…
Fresh blow for the construction industry as ANOTHER building company collapses into administration Qld Cedar Constructions has gone into administration Questions raised over whether it had a proper licence Latest blow to embattled construction industry By Max Aitchison For Daily Mail Australia Published: 16:51 AEST, 2 May 2023 | Updated: 17:56 AEST, 2 May 2023