In short: Major building company St Hilliers has called in voluntary administrators. Work has been paused work at 21 construction sites while administrators undertake an assessment of its finances and operations. What’s next? The first meeting of creditors is expected to be held within the next two weeks Major construction company St Hilliers has been placed into voluntary…
sydney’s Akasha Brewing Company has become the latest craft brewer to enter into voluntary administration, with the directors appointing Henry McKenna of Vincents as administrator on Wednesday. The directors of Akasha have made the decision to enter administration to deal with financial losses due to declining consumer demand amid a climate of rising production costs…
Around 180 Australian jobs are at risk as a popular sydney restaurant chain goes into administration. Elements Dining Group manages four Elements Bar & Grill restaurants in Sydney’s Pyrmont, Wooloomooloo, Darlinghurst and Haberfield, along with Elements Seafood Grillhouse in Walsh Bay. All five of the popular restaurants have gone into voluntary administration, with John McInerney…
Designer label Dion Lee has appointed voluntary administrators in the latest high-profile business to come under pressure amid difficult economic conditions. The fashion house, which has six stores in Australia and one in the US, is now under the control of insolvency firm dVT Group administrator Antony Resnick, who will continue running the business as…
Pascoe Vale’s RSL club has gone bust, with administrators called in to work out a rescue plan, and there are fears five more clubs across melbourne could follow. Liberal Senator Alex Antic discusses an appeal from RSL Victoria of $840,000 for ANZAC Day celebrations. “The answer to that is because this government is horribly out…
Tens of thousands of Australian investors with superannuation and savings tied up in cryptocurrency remain in suspense, as a major Australian broker collapses into voluntary administration. Key points: brisbane-based cryptocurrency broker Digital Surge has gone into voluntary administration The company is proposing a “rescue plan” but this would need to be approved by its 30,000 creditors…
Major Queensland building company LDC has become the latest in the field to enter voluntary administration, with creditors owed more than $7 million. The home builder went into liquidation on Friday. The construction industry has been rocked by a number of company collapses in recent months, with a skills shortage, high materiel costs and a…
The Australian aviation industry has suffered another blow with regional airline Rex announcing it has gone into voluntary administration. Speculation had been mounting on the future of the airline, after Rex suspended share trading on the ASX on Monday. Flights between major airports have been cancelled, which begs the question: what should you do if…
Above: Sule Arnautovic from Salea Advisory Access Print Solutions, Graphic Print Group (GPG) and Graphic Web in sydney and Adelaide are now for sale after entering voluntary administration with 50 employees affected. Sule Arnautovic from Salea Advisory has been appointed voluntary administrator for the three businesses by the directors of the business. Arnautovic is a…
The parent company of melbourne builders Eight Homes and Urbanedge Homes has entered voluntary administration, telling its customers “all builders are facing unprecedented challenges” because of the rising cost of materials and labour. Steve Maher, CEO of Mahercorp, said the company entered voluntary administration on Friday afternoon in an email to clients, sighted by The…