Rochfort Distillery enters liquidation: Injunction halts the auctioning of whisky at Hindmarsh Valley property | The Times | Victor Harbor, SA – Victor Harbor Times

Liquidation

The Rochfort Distillery in Hindmarsh Valley has been placed into liquidation, faced with potentially more than $500,000 of debts. The award-winning distillery and 200 seat restaurant opened in 2018 just outside of Victor Harbor, at the site of the former Victor Harbor Winery. It may now be forced into selling off its stock of whisky,…

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Debt and deficit go out the window as the reality of the coronavirus crisis hits home – ABC News

Debt Help

When will it finally sink in? No-one really cares about the deficit or the national debt, least of all the millions of Australians now facing the very real threat of a long period of unemployment, personal hardship and crisis. As Treasurer Josh Frydenberg and Finance Minister Matthias Cormann grimly fronted a media pack in Canberra,…

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COVID-19 hotel security company has worked on expired licence for a month – The Age

Liquidation

The Age and The Sydney Morning Herald can also reveal that a company closely linked to Unified Security, which had an almost identical name and operated from the same Sydney address, has been embroiled in a protracted liquidation process and as recently as February this year still owed unsecured creditors $4.5 million. Melbournes second COVID-19…

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European LED screen manufacturer insolvency – AV Magazine

Bankruptcy

Andorra-based European LED screen and lighting manufacturer Llum Creativa, trading as ARCH LED, has been declared insolvent. An administrator, Lourdes Alonso Martnez, has been appointed by the court in Andorra and creditors have 30 days to make contact. The company was founded in 2003 by Belgian entrepreneur Sebastian Clement, and initially served the entertainment and…

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1/3 of businesses will explore insolvency options when JobKeeper ends – Ragtrader

Restructuring

Many Aussie retailers are feeling the financial strain and expect to explore restructuring or insolvency options in the next six months, new research from national business recovery and insolvency firm Jirsch Sutherland has revealed. The independent survey of over 1000 SME directors, almost one-fifth of whom are in the retail sector, identified the key sources…

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MAN Energy Solutions to cut nearly 4,000 jobs as part of restructuring – – Splash 247

Restructuring

German propulsion and machinery giant MAN Energy Solutions has announced a comprehensive program to secure the future viability of the company. The program includes extensive cost-cutting and restructuring measures that could see almost 4,000 jobs lost. MAN says it is preparing for a long period of stagnant sales as a result of Covid-19, and sees…

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