#Bankruptcy
Toys “R” Us bankruptcy: lessons for retailers
Hard to believe but Toys “R” Us has sought bankruptcy protection. It’s interesting to hear the Australian operations remain unaffected, it’s hard to believe as we’ve heard and seen for so many years the success of Toys “R” Us. As the old adage goes…learn from failure. Here are five things every retailer needs to learn […]
Insolvencies set to increase in Australia in 2017
Australian businesses are set to experience an increase in insolvencies this year as a result of another difficult economic year, according to the recently-published Atradius Economic Outlook. The likely 2% increase in insolvencies puts Australia in step with the UK and Canada. The improving trend in the business environment across Australia and other advanced economies is […]
How to deal with financially troubled businesses
With administrations and liquidations steadily on the rise, more businesses are finding themselves having to deal with the fact that their trading partner has fallen into potentially fatal financial strife.
CBA compensation deal for Storm Financial coming on Saturday
The Commonwealth Bank has agreed to a settlement with former Storm Financial clients and plans to discuss compensation details this Saturday in Townsville, North Queensland. Some former clients of Storm Financial will be eligable for cash and other concessions as a part of the compensation deal. In responding to the deal, the Storm Investors’ Consumer […]
Anger over proposed bankruptcy amendments
Australia’s largest privately-owned debt collection agency Prushka has rejected claims by the Council of Small Business that proposed changes to bankruptcy legislation will produce better outcomes for SME’s. CEO of Prushka, Roger Mendelson said the Government’s proposal to change the current bankruptcy threshold from $2,000 to $10,000 shows an obvious lack of understanding of small […]
Small business supports new bankruptcy laws
Proposed changes to Australia’s bankruptcy laws have today received support from the Council of Small Business of Australia (COSBOA). One the eve of Senate debate around the Bankruptcy Legislation Amendment Bill 2009, the Council of Small Business has affirmed support for the bill which will ultimately improve the position for many small businesses that experience […]