The Australian Securities and Investments Commission (ASIC) has suspended the AFSL of Probis Financial Services 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 the Australian Financial Complaints Authority (AFCA), with arrangements for compensating retail clients in place until…
International act Foo Fighters are among those to have played at the Hi-Fi Bar Three popular live music venues in melbourne, brisbane and sydney are for sale, after collapsing into voluntary administration late last week. The Hi-Fi Bar chain is owned by former Carlton Blues footballer Luke O’Sullivan and has hosted the likes of homegrown…
Toys R Us has gone into administration five years after the company was saved. In a statement to the ASX the company said the business has been put into voluntary administration. Toys R US ANZ has put Luke Andrews and Duncan Clubb from BDO Business Restructuring in charge of the restructure to the toy store.…
Major Australian fashion retailer Mosaic Brands has entered voluntary administration, putting thousands of jobs at risk. The ASX-listed retailer, which holds iconic brands such as Rivers, Katies, Millers and Noni B, announced its move into administration on Monday afternoon. “Following recent attempts by the company to informally restructure its operations, the Board of Mosaic has…
The Orchard, a popular dining destination in sydney‘s Penrith has been placed into voluntary administration as it battles with the cost-of-living crisis. · The Orchard A popular dining destination has been placed into voluntary administration as it battles with the cost-of-living crisis. The sprawling business in Penrith, which includes a cafe, bar and restaurant, first…
Virgin Australia has entered voluntary administration, leaving the jobs of at least 15,000 airline workers and connected supply chain workers under a cloud. Key points: Virgin Australia is now being run by Deloitte administrators, who will work with the company on paying off its debts Virgin Group founder Richard Branson has vowed that the airline…
The debt-riddled melbourne Rebels will play out the 2024 Super Rugby Pacific season, but there is no long-term commitment to the club that entered voluntary administration on Monday night. Rugby Australia confirmed it was committed to getting the Rebels, who have debts of about $9m and needed a $500,000 bailout to pay players and staff,…
Sally Sara: Book sales soared during the height of the pandemic when many Australians were in desperate search of a good read. But a major player in the industry has come crashing back to earth. The country’s biggest locally owned online bookseller, Booktopia, has gone into voluntary administration. And some local booksellers worry that it…
The company behind a number of melbourne‘s top restaurants has gone into voluntary administration as the cost of living crisis continues to bite. Calia Australia, described as an “unique Australian restaurant-to-retail brand”, called in administrators after recently facing “significant challenges”. The business was created in 2016 and has restaurants in Emporium Melbourne and Chadstone…
It was announced in early April that Black Hops Brewing was forced to enter voluntary administration, with Deloitte Turnaround & Restructuring partners facilitating a financial restructuring of the business. One month later, the gold coast brewery took to social media to announce it had been saved from administration after a consortium of previous investors and…