Tag Archives: administration

May still tough month for retailers

As Australian retailers continue to face uncertain headwinds, May remains one of the worst months for external administrations, according to insolvency specialist company Jirsch Sutherland. “We started the year with a number of high-profile brands such as Maggie T and Zachary the Label entering into administration and, more recently, Esprit …

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NQR sold as a going concern

Victorian discount-supermarket chain NQR has been sold as a going concern and will continue to operate. Bruno Secatore and Luke Targett of turnaround, restructuring and insolvency advisory firm Cor Cordis were appointed as administrators of the Australian-owned NQR Grocery Clearance Stores on January 24. “Following a process of making improvements …

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Aussie Farmers Direct in administration

National food and groceries home-delivery network Aussie Farmers Direct closed on March 5, affecting about 100 franchisees, 260 employees and 100,000 customers around the country. Craig Shepard and Leanne Chesser of KordaMentha Restructuring were appointed voluntary administrators of Bed Milk & Bread (trading as Aussie Farmers Direct). Mr Shepard says …

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Westpac results positive for SMEs

The Westpac-Melbourne Institute SME Index results show business confidence rose by 3.2 per cent in the third quarter of the year. Westpac says the Index, which examines the economic health of Australian small and medium sized enterprises (SMEs) shifted above the 100-neutral mark for the first time in the year, …

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