I nsolvencies last month rose to the highest level since the Government began collecting the statistics four years ago, exceeding pandemic-era highs. There were 2,457 companies declared insolvent last month, up 16% from March 2022, as well as 288 compulsory liquidations, double the figure from a year earlier. This, the Government said, was partly due…
DetailsAbout a year ago, the Tokyo Stock Exchange introduced a major consolidation of its market segments with the aim of attracting more investments. But the move left many investors feeling frustrated. They claimed that the market reorganization didnt deal with fundamental issues, such as allowing a slew of underperforming firms to cling to the top…
DetailsApr 18, 2023 5.57pm Business collapses hit a 3 year high last month, to jump back above pre-pandemic trends for the first time, as rising interest rates and a cooling economy bite corporate Australia. Insolvency lawyers say the end of the cheap money era, banks becoming less forgiving of distressed corporate borrowers and the Australian…
DetailsApr 18, 2023 3.34pm Building industry failures for the nine months of the financial year to date have hit their highest level in seven years and are on track to break a decade-long record, industry figures say. Construction industry insolvencies over the three quarters to March were 1601, new figures from corporate regulator ASIC published…
DetailsDisclaimer: This is sponsored content. All opinions and views are of the advertiser and do not reflect the same of WFTS. Advertiser: Paradise Media. Debt consolidation loans are a great way to help people with bad credit get back on track. By consolidating all of your debts into one loan, you can make things much…
DetailsA company that provided services to both Woolworths and Coles that spectacularly collapsed late last year owes $5 million to creditors, financial records have revealed. Melbourne-based REDcycle, which offered Australias largest soft-plastics recycling program, went under after it was revealed hundreds of millions of bags and other soft plastics were secretly stored in warehouses and…
DetailsA former employee of a manufacturing company that suddenly went into liquidation says hes among many left devastated by the move. Mooloolabas Transportable Shade Sheds (TSS) went into liquidation on Monday, April 3, reportedly leaving hundreds of customers either without product or half-delivered orders. Former senior sales technician Terry Coe was among staff still working…
DetailsIf you are a creditor who is owed money by a company that has gone into voluntary administration, you will receive reports and notifications of meetings from the voluntary administrators. Chamberlains can advise you on your rights and what to do in this situation. In this case update, we look at one issue that may…
Details— Pipeline focus will prioritize programs in immunology, including REZPEG and several immunology research programs — — Development of NKTR-255 in diffuse large B-cell lymphoma and bladder cancer to continue as strategic partnering options are pursued — — Cost restructuring plan reduces San Francisco-based workforce by approximately 60% and extends cash runway into the middle…
DetailsIf one country defaults on its loans, its a big problem for its citizens. If a dozen countries default, its a big problem for the world. In the 1980s, defaults in Latin America led to hyperinflation, riots and political instability in Argentina, Brazil and Peru. The world appears to be on the verge of yet…
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