A popular Japanese restaurant has put over a dozen of its venues into voluntary administration across the country, with inflation and pandemic costs being blamed. Eight Okami restaurants in NSW have been placed into administration along with five in Victoria, two in the ACT and one in South Australia. The all-you-can-eat restaurant chain has more…
Details(Bloomberg) — China South City Holdings Ltd., partially owned by the city of Shenzhen, won a reprieve after creditors agreed to extend a dollar bond maturity and lower its coupon, avoiding a default as it soon faces more payment tests ahead. Most Read from Bloomberg Holders of the 9% note due July 2024 with $235…
DetailsEconomic challenges and lingering effects of the COVID-19 pandemic have led to a 14-year high in annual corporate insolvency figures, as businesses increasingly resort to insolvency processes to address significant financial difficulties. The Midlands branch of R3, an insolvency and restructuring body, reports this trend based on the latest statistics from the Insolvency Service. In…
DetailsAn embattled gym chain with businesses all across Australia has collapsed six months after external administrators first took over the business amid a protracted legal fight, with one of the directors going bankrupt. Mixed martial arts gym franchise UFC Gym Australia and New Zealand, which at its peak had more than 10 fitness centres in…
DetailsRestructuring and consulting firm Interpath Advisory has suffered its second consecutive annual loss. Rising interest rates have pushed more firms into financial distress, but Interpath has not seen that drive an avalanche of activity, according to its leaders. Even as rate hikes squeeze company finances, many companies which might consider restructuring are somehow avoiding it.…
DetailsA popular all-you-can-eat Japanese restaurant business has put 16 of its venues across Australia into voluntary administration, with its founder citing delayed costs from the pandemic and rising inflation. Okami businesses at Braddon and Mawson in the ACT; Cronulla, Camden, Dubbo, Marrickville, Sutherland, Pennant Hills, Penrith, and Wagga Wagga in NSW; Camberwell, Ballarat, Hampton, Melton,…
DetailsEoin Reynolds A man who transported more than 2.5 million worth of cannabis to reduce his gambling debt by 13,000 has failed in an appeal against the severity of his nine-year prison sentence. George Finglas, with an address on the North Circular Road, Dublin 7, pleaded guilty last year to possession of more than 128kg…
DetailsThe Best Lenders for Debt Consolidation Loans We at the MarketWatch Guides team compared dozens of lenders to come up with our top eight picks. If youre searching for the best debt consolidation loan, heres where to start. When Should You Consider a Debt Consolidation Loan? Debt consolidation loans can help consumers save hundreds or…
DetailsA man who transported more than 2.5 million worth of cannabis to reduce his gambling debt by 13,000 has failed in an appeal against the severity of his nine-year prison sentence. George Finglas, with an address on the North Circular Road, Dublin 7, pleaded guilty last year to possession of more than 128kg of cannabis…
DetailsSAN FRANCISCO With a large investor calling for Corbion NV to explore strategic alternatives, the company is committed to moving forward on a far-reaching restructuring program. While Amsterdam-based Corbion first announced the restructuring plan in October, launching it in response to soft weak financial results, details about the plan were shared in response to a…
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