Image: XL Express Well-known Australian independent logistics operator XL Express is in voluntary administration. On June 27, FTI Consulting was appointed as the voluntary administrators of the XL Express Group to begin an “urgent assessment” of the viability of the company that has more than 35 years of experience in the industry. The…
Rex Airlines has announced it has gone into voluntary administration and cancelled all flights between major airports. Rex’s website showed no available flights between the capital cities from Wednesday, with passengers advised they could rebook with Virgin at no extra cost. All regional planes are still flying as scheduled, but no New England centre is…
The construction of the new sydney Fish Market has been overshadowed by allegations of bullying and financial exploitation involving construction giant Multiplex and one of its key subcontractors, Sharvain Facades. Earlier in March, Multiplex appealed for government assistance after Sharvain Facades, the subcontractor that designed and manufactured the scaled roof, went into voluntary administration. Sharvain…
Mwave has secured a lifeline following the voluntary administration of its former holding company, Esel Pty Ltd. The digiDirect Group acquired the online technology retailer and offered employment opportunities to all its affected staff. Mwave is The digiDirect Group’s latest acquisition, following library supplier James Bennett in May and online bookstore Booktopia in August 2024.…
The notice was posted by the Tuition Protection Service (TPS), which outlined that operations ceased as of May 1, with Worrells appointed as the liquidator. “The Tuition Protection Service is in contact with Worrells to inform them of The Language Academy’s obligations to students and to determine how we can support The Language Academy and…
Australian online book retailer Booktopia has gone into voluntary administration, leaving customers in the dark about the status of their orders. An “urgent assessment” of Booktopia’s assets has been flagged, with a possible sale or restructure the focus of three administrators from McGrathNicol Restructuring, who have been appointed to head the evaluation of Booktopia Group…
It was hailed as an Australian fast food success story, but now the Pie Face Group is in the hands of voluntary administrators. The high costs of company run stores and an aggressive expansion overseas are being cited as reasons for the collapse of the group. While the administrators conduct a review of operations, there…
Its 2017 annual report noted a skyrocketing financial outlay since 2013, from $50 million up to more than $70 million. “The move to NDIS funding has obviously dramatically slowed Funding by State and Commonwealth sources,” the report noted. In her statement on Friday, Ms Batten emphasised her support for the NDIS. The Services Union has…
Hotelier Jerry Schwartz is expanding his hospitality portfolio rounding out his food and beverage tourist destinations with the takeover of Rocks Brewing Co brewery and brewpub in Alexandria, sydney. While craft brewers are struggling in many locations around Australia, Sydney Brewery is on the expansion trail with the takeover of the Rocks Brewing Company and…
MissChu, the popular Vietnamese tuckshop and catering business, has gone into voluntary administration. In a statement from KordaMentha, the company appointed as administrators, MissChu’s financial pressures appeared to be caused by “the lack of controls over fixed costs in the business, the expansion of the retail tuckshops through trading and the closure of the Opera…