NEWS
National Retailer Jeanswest Collapses into Administration
by Trade Credit Risk | January 16, 2020 | Blog | 0 Comments
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
by Trade Credit Risk | December 3, 2019 | Blog | 0 Comments
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...
Pizza chain Criniti’s has called in administrators – Aussie retail in trouble
by Trade Credit Risk | November 21, 2019 | Blog | 0 Comments
A national restaurant institution has called in administrators with some staff told several locations will not open its doors again. Italian chain Criniti’s is the latest hospitality institution to fall victim to the weak economy and crippled consumer spending after...
Victoria acts on phoenix builders
by Trade Credit Risk | November 21, 2019 | Blog | 0 Comments
The Victorian Government has proposed tough laws that will act on deterring illegal “phoenix activity” – where construction firms declare bankruptcy as a way out of trouble before restarting as a new entity and continuing to trade. Expanded powers will be given to the...
Developer Ralan Group in Administration Owing an Estimated $500m to Creditors
by Trade Credit Risk | August 1, 2019 | Blog | 0 Comments
One of Sydney's largest property developers, Ralan Group, has entered into voluntary administration, leaving billions of dollars worth of apartment projects in doubt and around $500 million owing to creditors. Administrators Grant Thornton said they would undertake...
Call for national company law changes to stamp out illegal phoenix activity
by Trade Credit Risk | July 30, 2019 | Blog | 0 Comments
In relation to builders who closed their doors to avoid cladding-related claims, Premier Daniel Andrews has stated that legislative changes would take time and that changes in anti-phoenixing laws were up to the federal government. State legislative changes would...
Napoleon Perdis Group in administration
by Trade Credit Risk | January 31, 2019 | Blog | 0 Comments
Australian cosmetics empire Napoleon Perdis Group has gone into voluntary administration, putting jobs and 56 local stores at risk . Company directors had been trying to find a buyer for months, but Administrators will now consider restructuring or pursuing the sale...
Industries predicted to rise and fall in 2019
by Trade Credit Risk | January 24, 2019 | Blog | 0 Comments
Several industries are expected to boom this year, according to industry analyst forecasts, while others could see revenues fall by as much as one-quarter. IBISWorld has released a list of the industries predicted to rise and fall over the next 12 months and below is...
Warnings of further collapses in retail as Specialty Mens Apparel, trading as Ed Harry, appoint Administrators
by Trade Credit Risk | January 16, 2019 | Blog | 0 Comments
Retail experts warn menswear business Ed Harry won’t be the only retailer to succumb to subdued retail conditions in the coming weeks as the industry comes to terms with lacklustre holiday trading. The business, which has 87 stores across the country and almost 500...
Construction Activity in Australia’s Residential Sector Continuing to Decline
by Trade Credit Risk | January 16, 2019 | Blog | 0 Comments
If the latest signals from the Australian construction sector are anything to go by, 2019 could turn out to be rough year for the broader Australian economy. Activity levels plunged at the fastest rate in nearly four years last month, driven by an even steeper decline...
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