Sally Sara: Book sales soared during the height of the pandemic when many Australians were in desperate search of a good read. But a major player in the industry has come crashing back to earth. The country’s biggest locally owned online bookseller, Booktopia, has gone into voluntary administration. And some local booksellers worry that it…
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As the Senate Economic References Committee (SERC) begins its public hearings into insolvency in the Australian construction industry, the vexed issue of phoenixing deserves to be highlighted. It is generally believed that illegal phoenix activity – where a company is liquidated and rises again in a way that avoids paying creditors – is widespread in…
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Northern Beaches Hospital, sydney, Australia [Photo by Cabrils via Wikipedia / CC BY-SA 4.0] Australia’s second biggest private hospital operator, Healthscope, was placed in receivership on Monday. This means the future prospects of 38 hospitals, 19,000 staff and hundreds of thousands of patients are now in the hands of ruthless international hedge funds, to which…
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THE failed real estate venture of Ocean Grove entrepreneur Taylor Dow owes more than $280,000 to creditors, according to ASIC documents. Documents lodged with the corporate watchdog reveal the Taylor Dow Property Group owes $29,000 to melbourne-based developer SMA Projects and $27,500 to Queensland-based Property Solutions. More than $66,600 is owed to the Australian Taxation…
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The company behind a number of melbourne‘s top restaurants has gone into voluntary administration as the cost of living crisis continues to bite. Calia Australia, described as an “unique Australian restaurant-to-retail brand”, called in administrators after recently facing “significant challenges”. The business was created in 2016 and has restaurants in Emporium Melbourne and Chadstone…
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It was announced in early April that Black Hops Brewing was forced to enter voluntary administration, with Deloitte Turnaround & Restructuring partners facilitating a financial restructuring of the business. One month later, the gold coast brewery took to social media to announce it had been saved from administration after a consortium of previous investors and…
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melbourne-based brewer Broo has placed Mildura Brewery and Mildura Brewery Pub into voluntary administration. Con Kokkinos and Matthew Jess from Worrells have been appointed voluntary administrators. “The Worrells’ teams are now investigating the Companies’ financial position and considering the options for the businesses going forward,” Worrells said in a statement. “The management team of Broo Ltd…
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Australian Motorcycle Industry News Peter Stevens Motorcycles The retail arm of Peter Stevens Motorcycles, encompassing the Peter Stevens dealership network and Harley Heaven operations, has today entered voluntary administration. This retail division was formally separated from Peter Stevens Importers in January 2023, when Jessica Chiodo-Reidy, daughter of Vince Chiodo, assumed full ownership and operational control…
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Luxury perth aged care facility Berrington Care Group, has gone into voluntary administration. 170 residents of the Como and Subiaco facilities are understood to be affected, although the group CEO says none will be forced out at this stage. KPMG has been appointed voluntary administrator and families are being urged to lodge their details with…
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Employees of enormously popular Brisbane doughnut chain Doughnut Time are taking the company to Fair Work over unpaid wages. As many as 35 workers across the company’s 15 Australian stores allege they’re owed more than $70,000 in pay, the Courier Mail reports. It’s the latest in a series of blows for Doughnut Time owner Damian…
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