Administrators have been called in to the holding company behind a NSW coal mine that shut its doors and laid off hundreds of workers earlier this year. Sanjeev Gupta’s Liberty Primary Metals Australia, which ran the Tahmoor coal mine south-west of sydney, went into voluntary administration on Monday. The company closed the mine in February…
Less than one year after being put up for sale and one week after gaining shareholder approval for a planned $10 million capital raise, embattled Australian spirits producer Top Shelf International has been placed into voluntary administration following an extended period of economic hardship and debt pressure. Announced to shareholders yesterday, the decision follows shortly…
Virgin Australia has become the largest airline to fail amid the novel coronavirus pandemic that is driving the worst crisis ever faced by global airlines. The brisbane-based carrier entered “voluntary administration” — the Australian equivalent of bankruptcy restructuring — on April 21, Virgin Australia said in a statement. The process will allow the airline to…
Department store chain Harris Scarfe has been placed into voluntary administration. The $380 million retail chain, which employs more than 1800 staff, is best known in South Australia, Victoria and Tasmania but has 66 stores nationwide. Watch the video above Know the news with the 7NEWS app: Download today Arrow Deloitte Restructuring Services partners Vaughan…
Signs of recovery in the coal mining sector have come too late for former BRW Rich 200 member Mark Ackroyd, whose National Plant & Equipment went into voluntary administration on July 13. KordaMentha has assumed control of the mining equipment sales and leasing business, for which Japanese giant Mitsui paid $150 million for a 49.9…
An award-winning, family-run sydney construction firm has collapsed into insolvency after almost 50 years in business. Novati Constructions, founded by Peter Novati in 1971, entered voluntary administration this week, The Daily Telegraph reported, with administrators from Worrells appointed to take control. Second-generation family members Luisa and Marco Novati are listed as company directors; according to…
Australia’s property construction sector has lost one of its longest-standing players with the sudden collapse of Novati Constructions Pty Ltd, a sydney-based builder operating since 1971. Administrators from Worrells were appointed this week after the nearly 50-year-old company was placed into voluntary administration, triggered by financial difficulties that reflect broader pressures on the industry. A…
Chocolate retailer Koko Black has been placed into voluntary administration. According to notices published by the Australian Securities and Investments Commission, Deloitte was appointed to manage the administration of Koko Black Group Pty Ltd and several related entities on Monday. However, the chocolate maker is continuing to trade as normal as the busy Christmas…
Crowdfunding platform Equitise has been handed to voluntary administrators after cofounder Jonny Wilkinson failed in his own attempts to raise a $500,000 bridging round. Administrators Damien Mark Hodgkinson and Mohammad Mirzan Bin Mansoor from sydney firm Olvera Advisors were handed the books on October 31. An initial creditor’s meeting will be held on November 12.…
Surf Breaks, Pizza and Wine: Survivor Contestant Felicity Palmateer’s Top Spots in Margaret River Travel Every year, you’ll find the surf legend at the Margaret River Pro, which brings some of the world’s top surfers to WA for an elite 11-day comp. In partnership with Tourism Western Australia, she tells us about growing up in…