The fall of perth builder Clough into voluntary administration after more than a century in business marks the latest in a string of local builders to hit troubled waters. Key points: WA building giant Clough has entered voluntary administration The administration is being overseen by Deloitte The delivery of several big projects is now in doubt…
Image source: Linkedin sydney-based print broker Mesh Direct has gone into voluntary administration with several printers caught up in the collapse of the company. Mesh Direct owes a number of wide format printers hundreds of thousands of dollars as well as staff entitlements of more than $250,000 – with total debt calculated to be $1,924,086.53.…
Another construction giant has collapsed, putting the jobs of more than 1200 Australians in jeopardy and impacting the Snowy 2.0 hydropower project. Clough announced today it was being placed into voluntary administration. The perth-based engineering group has been involved in numerous large-scale infrastructure projects around the country, including hydropower, energy, transport and mining. Clough has…
By Wayne Robinson | 17 April 2024 Mesh Direct Media is in voluntary administration, the sydney based large format print manager going down with debts of $1.9m, with several print businesses owed substantial sums. Organised by Mesh Direct: The huge Woolworth’s job in Sydney CBD The company specialised in large site signage, organising work for…
After 14 fruitful, award-winning years, Glen Iris taproom and brewery Deeds will be wound down this week. Sibling business Future Proof Distilling, which operates from the same building, is also shuttering. Independent breweries around Australia are struggling. In the past 12 months at least a dozen have entered voluntary administration, including Big Shed in Adelaide,…
Another Western Australian construction company has collapsed blaming increased material costs and labour shortages as well as “distrust” amongst the business’ stakeholders. Modco Residential, owned by Yusuf Khan and Cynthia Lu, is a perth-based construction company specialising in building steel-framed homes and was launched in 2020. But the business entered voluntary administration on Monday. Modco…
Australian inverter and battery company Redback Technologies is working to secure new investment after entering into voluntary administration this week. March 8, 2024 Bella Peacock
RUMOUR CONFIRMED Last Friday, The Rumour File was alerted to a private hospital which had entered voluntary administration. It was confirmed this morning, with hospital management forced to cancel surgeries and move patients to other hospitals. Press PLAY to hear the full story on The Rumour File
A prominent Western Australian builder has issued an emotional statement as his company enters voluntary administration. Modco Residential, a construction company founded by glamour couple Cynthia Lu and Yusuf Khan, has appointed perth-based firm GTS Advisory to assist in navigating its unfolding collapse. Director Damien Clancy apologises that the company, which specialises in steel framed…
Bonza’s aircraft have been seized by AIP Capital, an investment house owned by the parent of 777 Partners, ACAP, to recoup money owed to investors, sources close to the matter said. 777 Partners originally bought the aircraft and issued long-term leases to Bonza during COVID-19. AIP confirmed the aircraft had been transferred to a new…