Struggling up-market Australian accessories label Oroton has gone into voluntary administration. The news comes after Lover announced on Monday it too had gone under. The 79-year-old handbag retailer has seen a few years of slumping sales resulting in a $14.2 million loss last year. The company announced this morning that after an eight-month review it…
A New South Wales bus manufacturer looks set to close after laying off more than 120 staff this week, with their union laying blame on the State Government’s decision to buy vehicles overseas. Key points: Custom Bus manufactures and assembles mass transport buses and coaches and has built some of the vehicles on the road…
One of Australia’s biggest battery technology hopefuls, Redflow, has been placed into voluntary administration in yet another blow to the country’s green industry ambitions. The brisbane-based company has been working for more than a decade on its flow battery technology – which has the advantage of longer duration and zero fire risk – but has…
The owners of sydney‘s Cross City Tunnel are blaming the New South Wales Government for the company having to be placed in voluntary administration. Cross City Motorway, which is owned by the Royal Bank of Scotland, EISER Infrastructure and Leighton Contractors, was placed in voluntary administration on Friday. It could soon be the second time…
The fashion brands David Lawrence and Marcs have been placed in voluntary administration. Administrator Rodgers Reidy’s director, Geoffrey Reidy, said the two brands would continue to trade while his team reviewed their operations before a planned sale of the businesses. The sole director of the companies operating the labels, Malcolm Webster, says it has been…
Toys ‘R’ Us Australia has gone into voluntary administration months after the US and British retail giant’s collapse. Directors of the company resolved to appoint voluntary administrators McGrathNicol after the withdrawal of the final bidder for the sale of the Australian business, a McGrathNicol spokesman said in a statement on Monday. All Toys R Us…
An Aussie company that made seats for major sporting stadiums around the world has collapsed while still owing tens of millions of dollars. Camatic Pty Ltd which operates out of Australia with sites in the US and Malaysia entered voluntary administration in April. The 60-year-old Australian company owed $29.4m by the time Jason Stone and Glenn…
The macaron master Adriano Zumbo’s company has been placed into voluntary administration according to reports by the *sydney Morning Herald.* The details of the circumstances that have led to the move are not yet clear, but it’s believed the company could have debts nearing $10 million. Some of the debt might be offset by assets…
Celebrity chef George Calombaris has put much of his restaurant empire into voluntary administration. Advisory and investment firm KordaMentha has been appointed as administrators of 22 companies in the Made Establishment Group, which KordaMentha says operates 12 restaurants and food venues in
sydney channel player Object Consulting is up for sale after going into voluntary administration. The company held a creditors meeting earlier this week and administrators have filed documents with the Australian Securities and Investment Commission (ASIC) that reveal testing circumstances. The ASIC filing reveals that the company owes substantial amounts of wages and superannuation to…