Australian theatre firm behind major musicals folds with millions in debt and workers left jobless

An Australian theatre production company that staged major musical tours has collapsed with debts totalling $7.5 million, leaving dozens of performers and crew unpaid and prompting anger over a new business already producing shows under the same leadership.  David Venn Enterprises, the firm behind large-scale productions such as Elvis: A Musical Revolution and Cruel Intentions:…

SME owner opens up after personal training business enters liquidation: “For the first time ever I raised the white flag”

A small business owner has opened up about the difficulties of managing cashflow in a growing business, after his personal training company Rapid Personal Training entered liquidation yesterday. Insolvency firm Hogan and Sprowles has been appointed to manage the liquidation of Rapid PT, which employs three full-time staff and 17 contractors, and has seven locations spread across sydney and…

Brett Lee’s Sydney Beer Co saved from liquidation after creditors accept lifeline following months in administration

Former Australian fast bowler Brett Lee’s collapsed beer company has been thrown a lifeline after creditors backed a rescue deal. sydney Beer Co collapsed in March this year after failing to successfully trade, according to documents filed to the Australian Securities and Investments Commission. Being founded in 2016, the lager was distributed to 350 venues…

Staff, taxpayers out of pocket in restaurant fails

TWO of the gold coast’s most acclaimed eateries owe $40,000 superannuation to 44 staff who may never get it back. Documents lodged with the corporate regulator also show they owed $717,352 in tax, $17,000 to American Express and that the companies loaned almost $200,000 to a related company before they went into liquidation last week.…

Sydney Based Online Booking Company Goes Bust – Karryon

Fly365, an Aussie online flight booking company, with links to collapsed budget airfare company Bestjet, has left travellers out of pocket after it entered voluntary administration on Friday. sydney-based Fly365 deactivated both its website and Facebook page last week, leaving customers who believed they had secured flight bookings with little information about how to recover…