Category Archives: Voluntary Administration

Miniso Australia in financial turmoil after master franchisee collapses, owing $14.6 million

The Australian master franchisee for multinational discount retailer Miniso has collapsed into voluntary administration after the COVID-19 pandemic saw sales tank in recent weeks. Miniso Master Franchisee Pty Ltd, the main revenue generating entity associated with Miniso’s business in Australia, appointed administrators from Grant Thornton earlier this week, owing an estimated $14.6 million to creditors.…

Co-op bookshop enters voluntary administration

The company behind famous retail brands Australian Geographic and the Co-op bookshop has entered voluntary administration owing more than $15 million to toy sellers and publishers. The administrators, PwC’s Phil Carter, Andrew Scott and Daniel Walley, confirmed they were investigating payments made to a major supplier, controlled by Co-op chief executive Thorsten Wichtendahl, which received…

Sydney Fashion Fave ‘Tuchuzy’ Breaks Free Of The Voluntary Admin Monster Of 2020

Some excellent news for your Golden Goose collection comes today with an announcement from Tuchuzy, one of sydney’s longest running and most iconic fashion retailers. A spokesperson for the company has stated that the Bondi institute has “regained control” and has come out of voluntary administration thanks to the “support and willingness to shop local…

Food manufacturer Pronto e Fresco enters voluntary administration

A melbourne-based manufacturer of antipasto food products is for sale, after the business collapsed into voluntary administration on Wednesday. Pronto e Fresco Pty Ltd has been operating for more than 15 years and is based in the Melbourne suburb of Broadmeadows. The business supplies antipasto products such as semi-dried tomatoes, olives and grilled vegetables to…

Melbourne designer fashion retailer with six stores collapses into voluntary administration

A melbourne-based retail chain that helped launch fashion labels including Sass & Bide, Gorman and Alpha60 has collapsed into voluntary administration for the second time. FAT Stores operates five outlets in the Melbourne, selling a variety of local and international clothing labels. A sixth outlet in the Highpoint Shopping Centre in Melbourne’s west closed today.…

Award-winning pastry chef Pierrick Boyer shuts up shop, blames construction work for business failure

Award-winning pastry chef Pierrick Boyer has been forced to place his recently opened melbourne cafe into voluntary administration, blaming adjacent construction work for the downfall of his business. Boyer was named pastry chef of the year by Gault & Millau Australia last year, but since then his fortunes have taken a turn for the worse.…

Grill’d founder Simon Crowe buys Koko Black out of voluntary administration

  Premium chocolate brand Koko Black will emerge out of voluntary administration with a new owner, after the founder of the Grill’d burger chain, Simon Crowe, bought the brand. Administrators Deloitte confirmed to SmartCompany this morning Koko Black has been bought out of administration by a company owned by Crowe.  A spokesperson for Deloitte said…

Auction house Mossgreen enters voluntary administration

The company’s Melbourne headquarters in High Street, Armadale.In 2013, Mossgreen acquired coin, stamp and memorabilia experts Charles Leski Auctions and in 2015 acquired New Zealand auction house Webb’s.In 2016, Mossgreen opened its first sydney auction rooms and gallery, in the exclusive suburb of Woollahra.But in July this year, Mr Sumner and Ms Swanson bought back…

Australian fashion brand Zachary the Label reportedly goes into voluntary administration

Australian fashion brand Zachary the Label has reportedly gone into voluntary administration due to funding issues and increased competition both internationally and online. The melbourne-based brand joined the list of retailers that have gone into administration on Monday. The news was reportedly confirmed by insolvency firm Jirsch Sutherland, which has been appointed as administrators. Its…

Extravagant dessert retailer Nuts About Tella collapses amid ongoing pain for food operators

UPDATE: Nuts About Tella has emerged from voluntary administration and is expanding with the addition of a new brand. Read about it here. melbourne-based dessert-pizza retailer Nuts About Tella has become the latest dessert-focused retailer to fall victim to tough times, appointing voluntary administrators late last week. Glenn Spooner and Sam Kaso of Cor Cordis…