A major Australian property group has gone into voluntary administration, in another blow to the construction industry. Bensons Property Group announced on Friday that its team made the âdifficult decisionâ to appoint Craig Shepard and Sebastian Ham of Korda Mentha as voluntary administrators of the business. BPG was founded in 1994 by Elias Jreissati and…
A perth-based wireless earbud company, voted one of the best inventions of 2020, has appointed a voluntary administrator. Nuheara announced to the ASX it had been expecting a $2.5 million investment known as a convertible note from audio company Realtek Semiconducter Corporation that did not eventuate. It was also expecting a commercial and royalty agreement…
Club Rose Bay in sydneyâs eastern suburb has entered into voluntary administration. According to Australian Securities and Investments Commission documents, the long-standing RSL club appointed Hugh Armenis and Jason Lloyd Porter of SV Partners as administrators on 15 August, before a first meeting with creditors was held on 27 August. Despite this, the club went…
Two popular venues in melbourne have gone into voluntary administration as teams work to find a way to keep the “much-loved, iconic” venues afloat. Tracey Lester, the owner of the companies behind the Carlton Club and the Windsor Castle Hotel, has hired Cor Cordis administrators Rachel Burdett and Shaun Matthews to restructure the financial affairs…
Constance Hall has put her online fashion business into voluntary administration, revealing she was âdrowningâ in stress. The mummy blogger took to social media on Thursday to announce to her 1.3 million followers she would be shutting down the inclusive Queen The Label over an outstanding loan and tax bill. âI have put Queen The…
The family running Rocks Brewing has told The Crafty Pint they’re âdevastatedâ after the business entered voluntary administration this week. The sydney-based brewing company appointed insolvency solutions and business turnaround firm Jirsch Sutherland on October 29, with brewing operations and their Tap House continuing as usual for the time being. Rocks beers first appeared on tap…
Property developer Bensons Property Group says it will complete its $1.5-billion development pipeline across three Australian states despite entering voluntary administration. The company is reportedly managing more than 1300 apartments. Craig Shepard and Sebastian Ham of KordaMentha have been appointed as administrators, while Keith Crawford and Matthew Caddy of McGrath Nicol will oversee operations as…
Major Australian developer Bensons Property Group has entered voluntary administration, but says it will not impact any of the companyâs current projects. The company has cited tough conditions in the construction sector has seen them go bust, including higher interest rates and increasing construction costs. Craig Shepard and Sebastian Ham of Korda Mentha have been…
An Australian fashion business has collapsed into administration as the owner reveals sheâs been âstressed out for 7 yearsâ. Constance Hall, a perth-based mummy blogger and influencer who runs online fashion business Queen The Label, shared the news on Facebook on Thursday night, revealing sheâd been âdreadingâ it. âItâs broken my heart, I started the…
Australian Securities and Investments Commission data shows that in the nine months to the end of March, more than 2000 construction companies entered administration and represented the greatest number of company failures, accounting for nearly 27.7 per cent in that period. According to now-deleted content on Bensonsâ website, one of its core values is integrity,…