Australian Fashion Labels has entered voluntary administration and is holding urgent talks with a potential buyer, according to administrator Duff & Phelps. The fashion house, co-founded by Melanie and Dean Flintoff, operates labels BKNR, Finders Keepers, C/MEO Collective, Keepsake and The Fifth Label. According to Marcus Ayres, partner at Duff & Phelps, the business employees…
A steep increase in corporate failures is expected in the coming weeks as debt holidays introduced during COVID-19 come to an end. In December there were 46 company liquidations and five administrations across Queensland with high profile closures including national lingerie retailer Big Girls Don’t Cry (Anymore), Noosa eatery Madmegs & Co and a key…
Adelaide-based fashion retailer Australian Fashion Labels has collapsed into voluntary administration, putting 57 jobs at risk as the COVID-19 pandemic continues to put pressure on Australias retail sector. Marcus Ayres and Brett Lord of Duff and Phelps were appointed as voluntary administrators of the business on Wednesday and are now seeking a buyer or the…
On December 24, 2020, the European Union (EU) and the United Kingdom (UK) unveiled a Trade and Cooperation Agreement (TCA) establishing the broad relationship between them after the end of the Brexit transition period on December 31, 2020, with a particular focus on international trade, investment, public policy, and economic partnership between EU Member States…
NEW DELHI : Two power distribution companies of the Delhi government and Reliance Infrastructure Ltd have been asked to pay 1,864 crore of overdue electricity payments or face corporate insolvency proceedings, according to payment notices. Aravali Power Company Pvt Ltd (APCPL), a joint venture of state-owned NPTC, Haryana Power Generation Corp Ltd (HPGCL) and Indraprastha…
Nicola Bentley was the sole director of Stephensons (National Window Cleaning), which was incorporated in January 2017 and provided window cleaning services, predominantly for bookmakers. The company traded for two years but in January 2019 entered into creditors voluntary liquidation. A subsequent investigation by the Insolvency Service found that from February 2018 until the company…
Yue Chang Dai (56), from Dartford, Kent, was the sole director of Good View Da Ltd. The company was incorporated in April 2016 and traded as the Good View takeaway on Watling Street in Dartford. Good View Da, however, was unable to pay its debts and the company was placed into creditors voluntary liquidation in…
An Italian subsidiary of the Melite retail group has entered into voluntary administration in a bid to restructure debts incurred after the COVID-19 lockdown in Italy hit hard its 26 retail fashion stores. Melite Italia is the sub-lessee of 21 out of 26 stores owned by Melite Properties Srl. Melite Properties is now seeking new…
Your views: on QR data, Fullarton Rd upgrade and seat boundaries Urrbrae gatehouse demolition push despite millions in ‘contingency’ and heritage funding Australian COVID vaccine now ready to roll out from next month Democrats take senate majority with Georgia victories Australia fighting fit but pandemic marathon finish line a long way off EXCLUSIVE: Adelaide-based fashion…
Troubled businesses looking to access the new simplified debt restructuring process should be wary of a potential cash-flow squeeze, says an insolvency partner. Since 1 January, business with liabilities of less than $1 million and are up to date with their tax lodgements and employee entitlements have been able to access a simplified debt restructuring…