Another major Australian retail chain has collapsed, with the receiver warning that more could follow, as consumer confidence remains shaky. Key points: Administrator Cor Cordis plans to keep stores open and sell the whole group The chief executive said the company had been caught in a perfect storm of soft consumer demand, bushfires and coronavirus…
The company being reborn through a deed of company arrangement struck in administration is “the airline’s only chance”, said a source familiar with Virgin’s struggles. In administration, an independent party will assess Virgin’s position and negotiate with shareholders and creditors about the best outcome for the business. That could include finding new owners to take…
As the COVID-19 pandemic wreaks havoc around the world, Australians are hunkering down in their houses in a bid to avoid contact with the potentially deadly virus. Many states and territories have closed their borders and Australians have been banned from travelling overseas, with very few exceptions. As the nation stays indoors, many businesses are…
Bag brand Crumpler has filed for voluntary administration after ongoing lockdowns and store closures have pushed the business to collapse. The investment firm Crescent Capital Partners, which owns the business, has appointed Glenn Franklin and Jason Stone from PKF melbourne as administrators. The administrators cited ongoing lockdowns as the primary reason for the Crumpler’s collapse.…
cancelling all international flights late last month and
The future is bleak for Hooters Australia as the infamous chain of restaurants featuring scantily clad waitresses is put up for sale. It’s the second time the controversial ‘brestaurant’ chain, with locations in sydney and the gold coast, has been put up for voluntary administration. Current owner and local chairman, Sydney Borg, was enthusiastic when…
A grocery delivery app that was founded in the midst of the COVID-19 pandemic has collapsed into voluntary administration. SEND offered grocery deliveries in under 10 minutes to 46,000 registered users, with an estimated 300 employees working for the company from 13 sties and several dark grocery stores in sydney and melbourne. The company entered…
“The board remain hopeful that the Carriageworks facility will be able re-open to artists and community alike once NSW emerges from the effects of the current pandemic.” The sydney Writers’ Festival, Mercedes-Benz Fashion Week Australia, the design event Semi Permanent, part of the Vivid program, and its weekly Farmers Market were among events lost when…
RA said it would ensure the men’s and women’s teams would participate in the upcoming 2024 Super competitions. (melbourne Rebels) Rugby Australia (RA), the country’s governing body for rugby union, has taken control of the Melbourne Rebels after that team’s collapse into administration just weeks before the start of the 2024 Super Rugby Pacific season.…
