A Merhis apartment project under construction in Parramatta.Credit: Wolter Peeters The allegation was made by liquidators from Helm Advisory in documents filed with ASIC in April. The Merhis Group denied the allegations to the Herald. It settled claims from creditors in late September, agreeing to pay about $20 million to the tax office and other…
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As the COVID-19 pandemic wreaks havoc around the world, Australians are hunkering down in their houses in a bid to avoid contact with the potentially deadly virus. Many states and territories have closed their borders and Australians have been banned from travelling overseas, with very few exceptions. As the nation stays indoors, many businesses are…
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“Now that these concessions and support mechanisms have ended, from October 2022 to March 2023, there was a 61 per cent rise in insolvency compared to the same period last year, with 3632 cases reported this year compared to 2257.” Victorian Chamber of Commerce and Industry chairman Paul Guerra said rising inflation and the end…
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Bag brand Crumpler has filed for voluntary administration after ongoing lockdowns and store closures have pushed the business to collapse. The investment firm Crescent Capital Partners, which owns the business, has appointed Glenn Franklin and Jason Stone from PKF melbourne as administrators. The administrators cited ongoing lockdowns as the primary reason for the Crumpler’s collapse.…
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Another sydney building company has fallen leaving at least 60 creditors out of pocket and owing more than $1 million in debt. Simone Homes Pty Ltd went into voluntary liquidation on Thursday, August 24 with insolvency firm PKF’s Bradley John Tonks acting as the company’s liquidator. The business is family-run and was established in 2014…
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cancelling all international flights late last month and
By ELIZA MCPHEE FOR DAILY MAIL AUSTRALIA Published: 10:18 AEDT, 22 August 2024 | Updated: 11:37 AEDT, 22 August 2024 Four building and development companies have collapsed, putting 25 projects in jeopardy, as the construction industry continues to be ravaged by soaring costs of materials and labour. The NSW companies – Adroit Constructions Pty Ltd, Maximus…
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The future is bleak for Hooters Australia as the infamous chain of restaurants featuring scantily clad waitresses is put up for sale. It’s the second time the controversial ‘brestaurant’ chain, with locations in sydney and the gold coast, has been put up for voluntary administration. Current owner and local chairman, Sydney Borg, was enthusiastic when…
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A grocery delivery app that was founded in the midst of the COVID-19 pandemic has collapsed into voluntary administration. SEND offered grocery deliveries in under 10 minutes to 46,000 registered users, with an estimated 300 employees working for the company from 13 sties and several dark grocery stores in sydney and melbourne. The company entered…
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“The board remain hopeful that the Carriageworks facility will be able re-open to artists and community alike once NSW emerges from the effects of the current pandemic.” The sydney Writers’ Festival, Mercedes-Benz Fashion Week Australia, the design event Semi Permanent, part of the Vivid program, and its weekly Farmers Market were among events lost when…
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