Australia's biggest bookstore Booktopia collapses into voluntary administration – 9News

Liquidation

Booktopia has entered voluntary administration after failing to secure emergency funding. In an ASX announcement today, the book retailer said it had appointed McGrathNicol partners Keith Crawford, Matthew Caddy and Damien Pasfield to oversee the company’s restructuring. “The Administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are…

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Australian online book retailer Booktopia axes jobs after entering voluntary administration – 7NEWS

Liquidation

More than 150 jobs have been cut at embattled bookseller Booktopia as the company stops taking customer orders. The major Australian online book retailer entered voluntary administration last week, with customers complaining of being left in the dark about pending orders. An urgent assessment of Booktopia is being undertaken by administrators from McGrathNicol, who are…

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More than 160 staff terminated from trouble-plagued retailer Booktopia – Sky News Australia

Liquidation

Only 18 staff members remain at recently collapsed retailer Booktopia as 165 of their colleagues were sacked from the beleaguered company. The virtual bookseller announced last Wednesday it had entered voluntary administration after a major slump in share value, less than four years after it went public on the ASX.   The major Australian retailer…

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How the new $20,000 personal bankruptcy threshold could affect SME directors – SmartCompany

Bankruptcy

The involuntary bankruptcy threshold will lift from $10,000 to $20,000, Attorney-General Mark Dreyfus says, giving debtors more breathing room before their creditors can launch court action. On Monday, Attorney-General Dreyfus said the federal government will introduce a suite of reforms to the bankruptcy system, bringing it up to speed with the contemporary economic landscape. In…

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Holistic vs piecemeal: the state of review of Australian corporate insolvency laws – Clayton Utz

Bankruptcy

It has been 33 years since the “recession we had to have” in 1991. Fears that Australia would enter a technical recession during 2023 didnt eventuate. At the time of writing, our economy continues to still be resilient (relying on massive population growth through migration) despite ongoing decreasing consumer sentiment but another year of slow…

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Underworld widow Roberta Williams declared bankrupt – Yahoo News Australia

Bankruptcy

The widow of underworld figure Carl Williams has been declared bankrupt by the Federal Court, after it was reportedly revealed there was almost $300,000 owing in unpaid taxes. The court on Tuesday ordered that the estate of Roberta Merieca Williams be sequestrated, following an application by the deputy commissioner of taxation. Carl Williams widow Roberta…

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Melbourne pub fined for taking bets from boy, 16, with nearly $100,000 in gambling debts – The Guardian Australia

Gambling

A 16-year-old Melbourne boy was able to gamble nearly $100,000, including at suburban pubs, despite his mother desperately seeking help, a court has heard. The Melbourne magistrates court heard that when his mother discovered his gambling habits, she began a frantic mission to get him help, only to be repeatedly turned away. In April last…

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