On the morning of 4 May, Carriageworks was celebrating its online programming, Carriageworks Journal, in an EDM (Electronic Direct Message) sent out widely to subscribes and supporters. By 5pm that same day, Australia’s largest multi-arts venue had announced it was moving into voluntary administration. How can an arts organisation fold so quickly? The compounded impact…
Upmarket melbourne CBD eatery Calia has collapsed into voluntary administration, owing an estimated $2 million to Australian diner loyalty platform Liven and raising questions for diners with unredeemed restaurant credits. Documents listed by the Australian Securities and Investments Commission (ASIC) show Calia Australia, which operates the flagship restaurant and retail store in the city’s Emporium…
Premium chocolate maker and retailer Koko Black, which has stores in Claremont and the CBD, has gone into voluntary administration. Deloitte Restructuring Services put out a statement this morning saying it had been appointed to see if the business, which has 14 retail outlets across Australia, can be restructured. Founder Shane Hills opened the first…
Carriageworks, the contemporary arts exhibition and performance venue in sydney, went into voluntary administration on Monday under the pressure of six months’ worth of cancelled events due to the impact of the coronavirus. The cancelled events include the Sydney Writers Festival and Mercedes-Benz Fashion Week Australia. Today the Sydney Opera House confirmed it had been…
Founders Dereck and Diti Hales The owners of melbourne’s Bad Shepherd Brewing Co. have announced the decision to appoint an Administrator to help facilitate a financial restructuring of the business. Owners Dereck and Didi Hales have appointed DBA Advisory as Administrator, noting the company is supporting the continued operation of the business “Bad Shepherd’s employees…
Development sites of sydney-based real estate developer Dyldam have entered administration, with HLB Mann Judd and McGrathNicol seated at either side of the table. HLB Mann Judd is managing the administration process while McGrathNicol is protecting creditor interests. Setting the context: Dyldam’s financial struggles began in early 2019, as reported by the Australian Financial Review (AFR).…
One of sydney’s most iconic eateries – Golden Century Seafood Restaurant – has gone into administration with the owners blaming the ongoing impact of COVID-19 shutdowns and a lease dispute. Chifley Advisory has been appointed administrator of the institution in the heart of Sydney’s Chinatown and a meeting of creditors will be held on August…
The administrator for collapsed footwear retailer Sneakerboy is “urgently” reviewing its stock levels as customers raise concerns about delayed deliveries and frayed communication with the company. Sneakerboy, a luxury sneaker and streetwear store with a presence in melbourne, sydney, and online, entered voluntary administration on Saturday. While Sneakerboy became known nationwide for retailing shoes with…
The melbourne Rebels will reportedly go into voluntary administration as they seek AU$500,000 assistance to pay players and staff in addition to their existing AU$9 million debt. This throws the futures of key Wallabies Andrew Kellaway and Taniela Tupou amongst others in doubt. The club has appointed sydney-based firm Wexted as an external financial advisor…
Failed apartment developer Ralan will enter liquidation next week when an agreement struck between founder William O’Dwyer and about 1600 apartment buyers, who are owed about $230 million, is expected to be terminated. The developer, which had high-rise projects in sydney and the gold coast, entered voluntary administration in August last year, owing creditors more…