Stationery chain Paperchase is on the brink of administration after most of its stores were forced to close over the Christmas period. The firm has filed a notice to appoint administrators, a move that will give it breathing space from its creditors while it works out a rescue plan. The company has 127 stores and…
DetailsA faster than expected economic recovery from last year’s recession means the number of businesses going under will be less severe than predicted. Job ads surged in December to pre-pandemic levels and bank loan repayment holidays fell for a fifth straight month in November as businesses and home borrowers resumed making payments, new data on…
DetailsThe lenders of debt-ridden Videocon Industries and 12 other group companies will meet on Tuesday under the insolvency resolution process (IRP). The 20th meeting of the consolidated committee of creditors (CoC) of Videocon Industries Ltd and other 12 Videocon group companies, having a consolidated corporate insolvency resolution process, is scheduled to be held on Tuesday,…
DetailsNEW figures have revealed insolvency rates in the coastal town of Scarborough are the highest in the country. The shock statistics show rates in the North East, Yorkshire and the Humber and the North West are the worst in England and Wales. The insolvency trade body R3 says the statistics are a stark reminder of…
DetailsInsolvency reforms that will allow small businesses to restructure their debts or wind up their operations faster have now kicked in. Changes to Australias insolvency framework have been in effect since 1 January, allowing eligible businesses experiencing financial distress to access a new, simplified debt restructuring process, or enter into a new simplified liquidation pathwayto…
DetailsWhilst Australian businesses currently enjoy the financial comfort blankets provided by both the Governments COVID financial measures and an ATO approach to tax debts that is both forgiving and non-aggressive, it is inevitable that the financial tap will be turned off and the ATOs debt teams will Whilst Australian businesses currently enjoy the financial comfort…
DetailsCredit card debt can add up fast, especially right after the holiday season. But for anyone looking to tackle their debt in 2021, there are a handful of credit cards that can help you wipe out a big balance without getting dinged with expensive interest charges. The average credit card APR is 16.43%, but you…
DetailsFor many, 2020 has been the year to forget. The Coronavirus pandemic (COVID-19) has halted global economi… For many, 2020 has been the year to forget. The Coronavirus pandemic (COVID-19) has halted global economies and initiated recessions across continents and countries, including Australia. In an attempt to alleviate the financial impact of COVID-19, the Australian…
DetailsNational Debt Relief is a company that offers relief through a process known as debt settlement, which aims to help consumers get out of debt. With debt settlement, you’ll set aside an amount of money in a savings account each month until you’re able to “settle” your debts for less than you owe. You’ll pay…
DetailsOn next weeks Neighbours in Australia, Hendrix is in serious trouble and resorts to extreme measures to protect himself. Yet his plan backfires, quite literally, as Shane ends up getting shot. These episodes air in Australia from Monday 11th January, and in the UK four weeks later from Monday 8th February. Hendrixs debt to Kane…
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