Vacuum cleaner retail chain Godfreys has collapsed, with cost of living pressures blamed for fewer sales and contributing to a “challenging economic and operating environment” for the business to remain viable. Key points: Godfreys has entered voluntary administration while looking for a potential buyer for the vacuum cleaner retailer The business has struggled with maintaining…
Aussie influencer Constance Hall’s fashion brand Queen The Label has collapsed into voluntary administration after seven years. She made the announcement on social media, saying she no longer has money on her books to pay off her debts. “I have been stressed out for seven years, seven years of not giving my kids the time…
Popular Japanese restaurant Okami has placed more than a dozen of its venues into voluntary administration across the country. The all-you-can-eat restaurant said the effects of the pandemic combined with rising inflation led to a decline in sales. Impacted venues include eight in NSW, five in Victoria, two in the ACT and one in South…
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. READ…
A popular Australian craft beer company has entered voluntary administration, but its founder has insisted “it’s business as usual” for the team. Hawker’s Beer, an independent brewing company based in Reservoir in melbourne, announced today it has appointed administrators “to help facilitate a financial restructuring of the business”. DBA Reconstruction and Advisory will oversee the…
Award-winning craft brewery Deeds Brewing has gone into voluntary administration, as a dire year for independent Australian beer makers continues. The Victorian-based outfit called in administrators on Wednesday, according to ASIC records, for four companies that make up the business: Deeds Group Pty Ltd, Deeds Brewing Company Pty Ltd, Future Proof Distilling Pty Ltd and…
Australian regional airline Regional Express, known as Rex, has gone into voluntary administration. However, regional planes are still flying as scheduled, the airline said. But all Regional Express domestic flights between major cities are cancelled. READ MORE: Controversial scene at Olympics ceremony triggers torrent of abuse Rex Airlines has gone into voluntary administration Supplied Rex announced…
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…