NEWS

Housewares and furniture chain Ishka in voluntary administration

Housewares and furniture chain Ishka has collapsed into voluntary administration as the malaise currently gripping the nation’s $320 billion retail sector claims another victim to add to a growing list of collapses in just the last few months. The family owned retail...

Coronavirus outbreak in China: Risks of supply chain disruption increase with time

The official PMIs for January released today do not yet reflect the magnitude of the economic concerns around the ongoing coronavirus 2019-nCoV outbreak in China. However, we think that its impact on the Chinese economy and the rest of the world is not negligible. The...

Tax debts could tank your credit score under new ATO powers

Business owners will need to pay closer attention to their cash flow management heading into end of financial year, with new credit bureau reporting laws set to put extra pressure on businesses to pay their tax debts. Entrepreneurs leaning on the Australian Taxation...

Holden axed in Australia as General Motors gets out of right-hand-drive globally

Holden will be axed in Australia at the end of 2020 – just three years after the end of local manufacturing and the lowest monthly sales since it was established in 1948 – as US car giant General Motors gets out of right-hand-drive markets globally. Although Holden...

George Calombaris places restaurant empire into administration

George Calombaris has placed his restaurant empire into voluntary administration, only months on from an underpayment scandal and more recently the loss of his MasterChef role. Calombaris’ business, Made Establishment, met this afternoon to decide whether to appoint a...

Macy’s To Close 125 Stores And Axe 2,000 Jobs As Retail Landscape Shifts

Macy’s announced on Tuesday that it will close 125 stores and axe 2,000 jobs, becoming the latest shopping giant to shutter shops amid a radical reordering of the retail landscape. The department store chain plans to exit weaker shopping malls and focus on opening...

Jewellery and accessories chain Colette by Colette Hayman placed into voluntary administration

Yet another high-profile Aussie fashion brand has announced its stunning collapse. The company behind popular jewellery and accessories chain Colette by Colette Hayman – the CBCH group of companies – was placed into voluntary administration late last month, it has...

Business is booming for liquidators and that’s a bad sign for everyone else

With their role in turning around failing businesses, or winding them up, the corporate undertakers are an indicator of the broader economy, so it's telling that they're hiring, expanding and preparing for a difficult 2020. "We're starting to see some interesting...

National Retailer Jeanswest Collapses into Administration

National fashion retailer Jeanswest has collapsed into administration, becoming the latest major retailer to fall on tough times in recent weeks. The business, which employs 988 people and has 146 stores across the country also has a number of international stores,...

Co-op Bookshop enters voluntary administration

The company behind famous retail brands Australian Geographic and the Co-op Bookshop has entered voluntary administration owing more than $15 million to toy sellers and publishers. The administrators confirmed they were investigating payments made to a major supplier...

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