NEWS

ARITA Guide to Small Business Insolvency Reforms

In September 2020, Treasurer Josh Frydenberg announced changes to Australia’s insolvency regime aimed at reducing the impact of the COVID pandemic on small business. He described the changes as ‘the most significant reforms to Australia’s insolvency framework in 30...

Atradius Regional Sector Performance Snapshots

The COVID-19 pandemic has had an impact on every economy throughout the world, triggering the worst economic recession in almost a century. Whether due to lockdown orders restricting the ability to operate, staff sickness, or interrupted supply chains, the majority of...

Climate change inaction tipped to cost $100 billion annually by 2038

A damning report into the economic cost of failing to act on climate change has revealed inaction could cost Australia $100 billion every year by 2038.  Conducted by independent, crowdfunded non-profit Climate Council, the research states that 2019 was Australia’s...

Business Failures on the Rise

Business failures on rise as ASIC data shows COVID insolvency drought breaking. Patrick Commins reports that figures from ASIC showed the first year-on-year increase in the weekly insolvency count in at least six months — a development that experts say may be a “sign...

Business collapses to accelerate as coronavirus crisis drags on, experts warn

The worst could be yet to come, as months with little or no revenue take their toll. For example, Nicole Manns was the proprietor of a thriving video production house in Brisbane until Hollywood superstar Tom Hanks got COVID-19 while filming on the Gold Coast. "We...

Virgin Australia To Go Into Voluntary Administration

Virgin Australia will reportedly go into voluntary administration after failing to find a way to keep the company afloat. It’s understood its board held crisis meetings Monday afternoon and an official announcement is “immiment”, following the NSW and Queensland...

Market Monitor Construction Australia 2020

It is the largest non-service related industry employing more than 1.1 million people. 2019 was a difficult year for the industry with lower building activity and decreasing value added (down 5.7%). Residential construction output continued to decline due to more...

Bushfires And The Coronavirus Blamed For Kikki K Failure

One of the Surf Coast's biggest business success stories has collapsed, putting some 500 jobs at risk. Stationery chain Kikki K, which was founded by former Torquay resident Kristina Karlsson, has been placed into voluntary administration. Kikki K has 65 stores in...

Spotlight to buy collapsed retail chain Harris Scarfe

Collapsed department store chain Harris Scarfe has found a buyer in the Spotlight Group, but the future of its remaining stores and staff remains unclear The owner of fabric chain Spotlight and outdoor brands Anaconda and...

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...

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