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,…
The ACCC has fired a warning shot to Qantas and Virgin, saying it has a close eye on prices after Bonzaâs collapse and Rexâs uncertain future. When Rex started flying between the capital cities in 2021, prices on those routes dropped 25 per cent. The consumer watchdog has reaffirmed its close watch on Qantas and…
The well-established English language and VET provider, which has been operating since 1997, has been placed into voluntary administration by a creditor. An update on its future is anticipated later this week. âThroughout 2024, IH sydney Training Services has been in various discussions to bring an investor or acquirer into the company,â said Tim Eckenfels,…
The Australian construction industry faces another setback as Bensons Property Group enters voluntary administration. The melbourne-based developer, with a portfolio of high-profile projects, cited rising construction costs and increased interest rates as primary challenges. Figure 1: A photo of the Liberty 1 building in Footscray shows diggers at the Liberty 2 site. With Bensons Property…
KAIJU! Beer have become the latest brewery to enter voluntary administration, appointing DBA Reconstruction and Advisory to oversee a financial restructure of the overarching business, South East Brewing Company. Throughout the voluntary administration process, KAIJU! will continue operating as usual, with the doors to their Huntingdale brewpub remaining open and their production schedules continuing without interruption. …
A popular dining destination has been placed into voluntary administration as it battles with the cost-of-living crisis. The sprawling business in Penrith, which includes a cafe, bar and restaurant, first opened two years ago. Dubbed âWestern sydneyâs most memorable venueâ, the site has been the backdrop for many weddings and special events. However, âa period…
Star Entertainmentâs lenders warn the sydney and gold coast casino owner could be in voluntary administration within months and its hotels carved up and sold to the highest bidders, as a lifeline deal to preserve its future as a listed company fails to materialise. Two sources close to Starâs secured debt providers, speaking on the…