NEWS

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...

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...

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