Another Western Australian construction company has collapsed blaming increased material costs and labour shortages as well as “distrust” amongst the business’ stakeholders. Modco Residential, owned by Yusuf Khan and Cynthia Lu, is a perth-based construction company specialising in building steel-framed homes and was launched in 2020. But the business entered voluntary administration on Monday. Modco…
Australian inverter and battery company Redback Technologies is working to secure new investment after entering into voluntary administration this week. March 8, 2024 Bella Peacock
RUMOUR CONFIRMED Last Friday, The Rumour File was alerted to a private hospital which had entered voluntary administration. It was confirmed this morning, with hospital management forced to cancel surgeries and move patients to other hospitals. Press PLAY to hear the full story on The Rumour File
A prominent Western Australian builder has issued an emotional statement as his company enters voluntary administration. Modco Residential, a construction company founded by glamour couple Cynthia Lu and Yusuf Khan, has appointed perth-based firm GTS Advisory to assist in navigating its unfolding collapse. Director Damien Clancy apologises that the company, which specialises in steel framed…
Bonza’s aircraft have been seized by AIP Capital, an investment house owned by the parent of 777 Partners, ACAP, to recoup money owed to investors, sources close to the matter said. 777 Partners originally bought the aircraft and issued long-term leases to Bonza during COVID-19. AIP confirmed the aircraft had been transferred to a new…
Getty Images The low-cost carrier has only been operating flights in Australia since 2023 Australia’s newest budget airline has gone into voluntary administration, after abruptly cancelling all of its flights on Tuesday. Bonza’s financial woes have left thousands of passengers stranded around the country. Operating since last year, the carrier had been the first to…
It was announced earlier today that the melbourne Rebels would sadly not being taking part in the 2025 Super Rugby Pacific season. After the club was placed into voluntary administration in January, their application to rejoin the league next season was always going to be on shaky ground. Rugby Australia concluded that the consortium’s proposed…
The New Zealand-owned restaurant group likely traded while insolvent, according to a new report. Save You have reached your maximum number of saved items. Remove items from your saved list to add more. Save this article for later Add articles to your saved list and come back to them anytime. Got it The group behind
ASX-listed developer Land & Homes Group has entered voluntary administration after being unable to plug the funding gap on a brisbane project. Land & Homes acquired 44-100 Barry Parade site in Brisbane’s Fortitude Valley for $20 million in 2016 and planned to develop 491 apartments. It filed its plans for the site in 2017, detailing…
Hannah Hammoud Less than 15 months after the multi-million dollar Sunshine Private Hospital was officially unveiled, the hospital is now closed and has entered into voluntary administration. ABC Radio melbourne reported on May 28, that the Sunshine Private Hospital was cancelling surgeries and relocating patients as it was placed into voluntary administration. Health Worker Union…