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Fashion chain Lisa Ho in Australia in administration

Who is Lisa ho ?Lisa Ho is an Australian fashion designer born in Albury, on the New South Wales and Victorian border. She is married to Philip Smouha. WikipediaLisa Ho Designs is the latest Australian retailer to fall in financial trouble , with the high end fashion chain placed into administration last week.Dressed in a black outfit, a stony-faced Ms Ho faced creditors yesterday for the first time since the business that she founded 30 years ago was placed into administration earlier this month. It is understood she did not address the creditors.Administrators appointed for fashion houseFinancial firm HLB Mann Judd has confirmed it was appointed as administrator of the high-end fashion chain last Wednesday. The administrator will sift through the company’s assets  and liabilities and look for a suitable buyer. A creditors’ meeting is scheduled for May 20, and in the meantime all 10 stores will reportedly continue to trade.The Lisa Ho chain today comprises 10 flagship stores in Austr…
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Reader’s Digest magazine, filed for bankruptcy

RDA Holding Co., publisher of the 91-year-old Reader’s Digest magazine, filed for bankruptcy to cut $465 million in debt . The company recently sought court protection from creditors. Reader’s Digest, founded by DeWitt and Lila Wallace, went public in 1990. An investor group led by private-equity firm Ripplewood Holdings LLC bought it in 2007 for $1.6 billion and the assumption of about $800 million in debt.More recent other companies  Hostess Brands Inc., maker of Twinkies and Wonder BreadEastman Kodak Co., inventor of Kodachrome and the Instamatic camera have also been in trouble in these tough times.The company had  filed for bankruptcy for the first time in August 2009 due to a  a drop in advertising.RDA Holding Co. listed assets and debt of more than $1 billion each in Chapter 11 documents filed Feb. 17 in U.S. Bankruptcy Court in White Plains, New York.US bankruptcy courtsMost cases are filed under the three main chapters of the Bankruptcy Code – Chapter 7, Chapter 11, and Chapt…

Independent phone retailer crazy John’s to close down

One of Australia's most successful  entrepreneur ( John Ilhan'sbusiness story  “ crazy Johns”  has just been dumped by VODAFONE Australia Vodafone is supposed to  close the book on one of the nation's most successful tales of entrepreneurship  “crazy Johns”   who  built up one of the successful independent phone dealers in competition with giants like Telstra , Optus and VodafoneThe Crazy John’s brand was a successful business when Ms Ilhan sold it to Vodafone five years ago for $150 million.
Vodafone has plans to dump the Crazy John's brand from its stores and rebrand them under its own name.As many as 40 Crazy John's stores are expected to close by February 20, and the other 21 will be rebranded as Vodafone Australia stores.John Ilhan's, who died of a heart attack in 2007, had built the company in the space of 15 years into Australia's second-largest independent mobile phone retail chainUp to 300 jobs are said to be at risk nationwide and Vodafone last …

Current Bankruptcy , Insolvency Appointments

Corporate insolvency appointments in relation to companies registered in NSW, VIC, QLD, SA, WA, ACT, NT & TAS.

Liquidation normally occurs when a company has failed and creditors resolve that it be wound up.


List of bankruptcy , insolvency appointments

30 Nov Vanarden Pty Ltd
Creditors' Meeting for Voluntary Creditors' Liquidations, QLD


30 Nov SMK Enterprises (Aust) Pty Ltd t/as Pet Cafe Cleveland
Creditors' Meeting for Voluntary Creditors' Liquidations, QLD

30 Nov TSA Corporation Pty Ltd
Creditors' Meeting for Voluntary Creditors' Liquidations, WA

30 Nov ACN 007 093 245 Pty Ltd formerly k/as Croydon Auto Electrical Services Pty Ltd
Creditors' Meeting for Voluntary Creditors' Liquidations, VIC


30 Nov Hanlay Industrial Group Pty Ltd
Creditors' Meeting for Voluntary Creditors' Liquidations, VIC

30 Nov S & K Contracting Pty Ltd
Creditors' Meeting for Voluntary Creditors' Liquidations, NSW


30 Nov Zalmar Retail Willoughby Pty Ltd
Credi…

Ruth Tarvydas to close the doors

Perth designer Ruth Tarvydas will close the doors of her King Street shop next week and appoint an administrator. The company plans on appointing an administrator to allow the company time to deal with creditors and maintain business relations with any owed parties.
Tarvydas | Facebookwww.facebook.com/Tarvydas.fanpagehttp://www.ruthtarvydas.com/
A statement from the company said "regrettably Tarvydas will be leaving King St in 7 days." The label said they would continue to produce collections.Tarvydas joins a range of iconic retailers, including Wasteland and Subway DC, which have all closed up shop in the last month

Book Supplier Wooldridges has closed all of its WA Stores

School books supplier Wooldridges has closed all of its WA stores and laid off staff. Accounting firm Grant Thornton was appointed administrators of Education Works Pty Limited, which trades under the name Wooldridges, Elizabeth Richards and Photoworks.



Wooldridges has around a 75 per cent market share of school book sales in WA with most of the schools requiring thier students  to visit these shops to get thier books and  study material, yet they have managed to get into this position. Punters were pretty disappointed with these results

A legal battle between Wooldridges and Corporate Express over delays which resulted in thousands of WA students starting school this year without ordered textbooks and stationery.

The company started as a family business in Perth in the 1960s. It was then bought by Sydney-based private equity firm Fulcrum Capital Partners in 2008.

Campion education is poised to boost its market share in the school books supply space following the collapse of Wooldridg…

Voluntary liquidation - Darrell Lea's

Darrell Lea's administrators are hoping they can save hundreds of jobs and find a buyer for the famous chocolate maker. In shocking sour news Darrell Lea appointed PPB Advisory as voluntary administrators amid fears the company is in deep financial distress.Workers to lose jobs with Darrel lea Liquidation FearsThe company is 100 per cent owned by the Lea family.A review of Darrell Lea's business was underway in the hope a buyer could be found for the company which is in distress with its 700 workers at risk of losing jobs. Darrell Lea had been experiencing trading problems for some time, with soft retail conditions like playing a part in its downturn and subsequent voluntary liquidation. Darrell Lea employs about 700 people at its Sydney manufacturing base and at its 1800 shops across Australia, New Zealand and the United States.There have been media reports of Potential bidders from Australia and overseas that have already expressed interest in the 85-year-old company. The un…