Leading Aussie vacuum retailer Godfreys Group has entered voluntary administration, affecting the employment of approximately 193 staff across Australia and New Zealand. Godfreys Group announced today that it had made “the difficult decision” to appoint voluntary administrators after almost 90 years in business. “Sadly, like many retailers, we have been heavily impacted by consumer confidence…
DetailsA debt consolidation loan can be the difference between a good credit score and bankruptcy. It can be the difference between many thousands of dollars flushed down the drain and a healthy bank account balance. It can be the difference between sleepless nights and stress-free REM cycles. Living with debt is hard. And if you…
DetailsA major Australian retailer has gone into voluntary administration with expectations 193 people will lose their jobs and 54 stores will close. On Tuesday afternoon, Godfreys Group appointed voluntary administrators. Craig Crosbie, Robert Ditrich and Daniel Walley of the restructuring arm of PwC Australia are running the restructuring attempt. They said that Godfreys Group Pty…
DetailsRugby Australia is working with the debt-ridden Melbourne Rebels to ensure they field a team in this year’s Super Rugby Pacific competition but has offered no guarantees beyond that. Key points: Embattled Super Rugby club Melbourne Rebels have entered voluntary administration just a month before the season kicks off The Rebels are believed to be…
DetailsCoronation Streets explosive storyline about gambling addiction really hit home for a good reason they hired a recovered addict to advise them. When a building yard went up in flames in the ITV soap on Friday, owner Ed Bailey was suspected of starting it to pay his gambling debts. While it remains to be seen…
DetailsIn short: After going into voluntary administration last October, dessert manufacturer Sara Lee is being sold. The company will be bought by the same family that bought Darrell Lea from administration in 2012. What’s next? The sale is expected to be made final in the coming weeks. Dessert manufacturer Sara Lee is being sold after it went…
DetailsCredit card debt can be a struggle, but there are options available to those who need some relief. Getty Images If you have credit cards that you carry a balance on from month to month, you’re not alone. Credit card debt is a common issue in the United States, and card balances are on the…
DetailsThe collapse of Rene Benkos real estate empire is spreading to his luxury retail assets, with department store operator KaDeWe Group filing for insolvency in Berlin. KaDeWe, which runs the eponymous department store in Berlin as well as high-end outlets in Munich and Hamburg, was forced to apply for a self-administered insolvency to uncouple from…
DetailsHONG KONG A Hong Kong court ordered China Evergrande, the worlds most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion owed to banks and bondholders that fueled fears about Chinas rising debt burden. It would be a situation where the court says enough is enough, Judge Linda…
DetailsUpdated Jan 29, 2024 6.32pm, first published at 2.13pm Tokyo | China Evergrande Group, the property developer at the centre of Chinas real estate crisis, will be broken up and liquidated under a Hong Kong court order, in a move which has sent shockwaves through the countrys financial system and could ultimately weaken demand for…
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