A popular motorcycle retailer with a 55-year history has gone bust, putting some 400 jobs at risk. Peter Stevens Motorcycles, which boasts a network of wholesale and retail outlets nationwide, entered voluntary administration on Monday. The company’s dealerships sell beloved brands including Harley-Davidson, Kawasaki, Honda, Suzuki, Yamaha and Vespa scooters. Its four major dealerships are…
THIRTEEN gold coast staff have been hit by the collapse of stockbroking firm BBY. The firm which commands more than $2 billion in funds and counts tennis great Ken Rosewall as one of its directors has been placed in voluntary administration. BBY announced yesterday it had handed control to advisory group KPMG after it failed…
The Australian Securities and Investments Commission (ASIC) has handed down a four-year ban to gold coast-based financial adviser Andrew Rankin. Under the ban, he is prohibited from providing any financial services, controlling an entity that carries on a financial services business, and performing any function involved in the carrying on of a financial services business…
Jamie Oliver’s Australian restaurant group has collapsed into voluntary administration, weeks after it was revealed the celebrity chef’s British hospitality company is $126 million in debt. BDO partners Andrew Sallway, Andrew Fielding and James White were appointed administrators of the Jamie Oliver Restaurant Group (Australia) Pty Ltd on Monday. The company operated six Jamie’s Italian…
A family-owned office supplies business that employs 40 people in Western Australia has collapsed into voluntary administration. The McLernon Group has a sizeable piece of the Western Australian office supplies business market through its retail arm McLernons Everything Business, which is Officeworks’ number one competitor in perth. But flat retail conditions in Perth have taken…
Sydney, where the brand has two outlets. Administrator reports show the Melbourne operation’s parent company, Poernomo Enterprise, owes creditors more than $1.6 million, much of it to related parties including family members and affiliated businesses. Managing director of KOI Dessert Bar, Reynold’s brother Ronald, told News Corp that the establishment was continuing to trade during…
gold coast businessman Adam Blackwell is allegedly under investigation by a liquidator for allegedly syphoning funds from collapsed panel beating group Action Smart, according to a recent report in News Corporation newspapers. The Group collapsed with creditors believed to be owed over $22million, while it is alleged that the liquidator is investigating Blackwell for more…
The Western sydney International Airport is among projects affected by a Sydney-based construction firm being placed in administration. Quasar Constructions was put into administration last week with $60 million owed to creditors and just $6 million in assets. The moves affects 10 under-way projects, of which three have been abandoned, four are the subject of…
MasterChef star Reynold Poernomo has received some tough news this week with his high-end dessert bar in melbourne going bust. The business behind KOI Dessert Bar in Melbourne, known for its luxurious, highly creative, and visually stunning treats, has entered voluntary administration. The family run business, which also has two establishments in sydney, became known…
In a surprising turn of events, Black Hops Brewery announced today via social media that the company would enter voluntary administration. This decision comes amidst a significant business restructuring, following the departure of founders and owners in recent years. The gold coast-based brewery, known for its unique craft beers and strong community presence, has undergone…