Bank Repossession

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. Wikipedia   Lisa 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 house   Financial 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 con...

  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 Fears   The 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 ov...

Administrator PPB Advisory today announced it would suspend Hastie's Australian mechanical, electrical and plumbing operations , after determining there were insufficient funds to operate  and run the businesses   The Administrators will remain in control of the companies that comprise the mechanical, electrical and plumbing (MEP) businesses in Australia as well as operations in the Middle East. These businesses employ 2,700 people in Australia and approximately 2,000 in the Middle East. More at pbadvisory.com-hastie-group   PPB said staff across the businesses had been informed formally of the situation and that there would be job cuts. Hastie group problems  and administration   Hastie Group, which provides solutions for commercial and industrial air conditioning and refrigeration services  to both Australia and New Zealand, had already been in talks with banks and new investors to extend its loans, but they broke down when Hasti...

Sydney will be full with catwalk shows and parties as Mercedes-Benz Fashion Week Australia ( 30 april – 4th may 2012 ) kicks off on Monday.   Mercedes-Benz Fashion Week Australia Sydney will be heaving with catwalk shows and parties as Mercedes-Benz Fashion Week Australia kicks off on Monday. But unlike the increasing number of fashion festivals across the country where people can buy tickets to events, MBFWA is invitation only.   Circular Quay Shows- 41 (44 in 2011) First timers Dylan Cooper; Flowers for a Vagabond; Toi et Moi Sydney; By Johnny; Oroton; Watson x Watson; An Ode to No One; Jenny Kee; Aje; Roppa Pemmaraju; Bless’d Are The Meek and Nana Judy   Whos back for More Romance Was Born; Camilla; Aurelio Costarella; Ksubi; Jayson Brunsdon; Akira   Little Joe Woman empire in crisis After tearing up the runways of Paris and Milan and gracing the covers of  australias fashion magazines. London-born supermodel turned fashion des...

1000 people are to lose their jobs as outdoors clothing chain Colorado, battered by debt cuts corners. A going-out-of-business sale will empty Colorado's 109 shopfronts across Australia and New Zealand within five weeks, slashing by one-third the size of the chain's parent company, Colorado Group. Receiver Brendan Richards of corporate recovery firm Ferrier Hodgson said the closures would include 100 stores trading under the Colorado banner in Australia and a further nine in New Zealand "The Colorado brand lost its way over the course of the last six or seven years, and the change in the economic environment and the downturn in the retail market has led this to happen." Mr Richards said the closures would eliminate loss-making sites, leaving a portfolio of 281 profitable stores dominated by the Williams and Mathers brands, which would have 135 and 73 stores respectively The move to close Colorado comes less than two weeks after the administrators of...

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When RED Group, the owner of Angus & Robertson and Borders locally and Whitcoulls in New Zealand (amounting to about 260 shops), opted on Thursday for voluntary administration , it blamed increasing online sales and Australia's territorial copyright laws for its problems. Borders plans to operate normally and honour gift cards and its loyalty program as it reorganises. But it is left to be seen how this will get managed Borders, whose market value has shrunk by more than $3 billion since 1998, racked up losses by failing to adapt to shifts in how consumers shop Well-known literary gent Jerry Seinfeld summed up the importance of bookshops. ''A bookstore,'' he said, ''is one of the only pieces of evidence we have that people are still thinking.'' Now the people who run them will have to do the thinking. Australian book chains Borders, Angus & Robertson and the Whitcoulls chain of newsagencies in New Zealand have been placed in...

White-goods retailer Clive Peters has been placed into administration, a victim of the downturn in the retail sector and a $20 million fraud by an employee last year. Clive Peeters in administration with $160M in liabilities $10M in cash. Who is clive peters? Clive Peeters Limited engages in the retail of electrical appliances and computer products in Australia. Its stores offer a range of kitchen appliances, laundry and bathroom products, home entertainment products, air conditioners, and barbeques, as well as computer products and peripherals, and various small electrical goods. The company operates its stores under two brands www. clivepeeters .com.au/ This morning shares in Clive Peeters were placed in a trading halt, with the company saying it was in talks with its financiers. Colin Nicol, Keith Crawford and Matthew Caddy of McGrathNicol have been appointed voluntary administrators of the retailer and its various entities. McGrathNicol McGrathNicol is an independent b...

Some recent liquidations anounced 2010 List of liquidations starting 2010 Griffin Coal (All Administrators Appointed) - Australia The Griffin Coal Mining Company Pty Ltd ACN 008 667 285 W.R. Carpenter Holdings Pty Ltd ACN 008 401 796 Griffin Energy Group Pty Ltd ACN 008 681 696 Carpenter Mine Management Pty Ltd ACN 106 053 703 Carpenter Mine Management Holdings Pty Ltd ACN 122 080 684 (All Administrators Appointed) Date of Appointment: 3 January 2010 Appointees: Brian McMaster, Scott Kershaw, Cliff Rocke and Mark Mentha Administration Contact KordaMentha Perth Office T: +61 8 9220 9333 F: +61 8 9220 9399 http://kordamentha.com/main/display-creditor.aspx?CID=62 =============================================== Roadfreighters liquidation – New Zealand A nationwide freight transport firm Rapid Roadfreighters, collapsed just before Christmas, has left as much as 250 workers jobless and they have started job search in the midst of u...

Readers digest file for bankruptcy The Classic old magazine is preparing to file a pre-arranged bankruptcy in the United States , where it has prospered for years under slogans such as "America in your pocket". The Reader's Digest , cosy standby of nervous patients in a thousand waiting rooms full of "how to" tips and jokes safe enough to tell grandmother, has become the latest victim of the recession and the internet's effect on paper publishing. A with every bankruptcy . the readers digest bankruptcy will also affect other companies Indian outsourcer HCL Technologies said on Tuesday that its US$350 million outsourcing contract with media company Reader's Digest Association will be unaffected by the U.S. company's financial problems. Reader's Digest plan of agreement for bankruptcy Until recently its prosperity appeared to know no bounds; it published 50 global editions in 21 languages, but its move to seek Chapter 11 bankruptc...

GM Comes out of bankruptcy , giving hopes of  better American recovery.A new General Motors (GM) emerged from bankruptcy protection on Friday, far more quickly than most industry watchers had expected, as a leaner automaker aiming to win back American consumers and pay back taxpayers.    A whirlwind 40-day bankruptcy for GM concluded with the closing of a deal that sold key operations to a new company that is majority-owned by the US Treasury. The closing documents were signed early Friday by representatives of the government and GM executives at the law firm of Weil, Gotshal & Manges, GM’s bankruptcy counsel. Ownership:US To Own 60% In New Co, Bondholders 10%      Analysts said the government intervention had given GM a new chance and sharply lower operating costs but left management facing deep challenges given the weak economy and GM’s long-running slide in market share . “I wouldn’t really call it a new GM, it is just a smal...

Gordon Ramsay spoke last week spoke frankly to The Sunday Times about keeping the administrators at bay.  It is the first time he has publicly admitted that his empire came close to collapse. Gordon Ramsay fined over late accounts / 23OCt 2008 According to a spokeswoman at Companies House, penalties incurred by Gordon Ramsay Holdings in failing to submit accounts from 2006 have reached the maximum £1,000 per year. Accounts for the 2006 financial reporting year are almost 16 months overdue, with 30 June, 2007 listed as the due date. Company accounts for 2007 were due by 30 June ­ now almost four months in arrears, attracting a £100 fine on top of fines for the previous year. Last autumn, GRH breached covenants on its £500,000 overdraft and £10m of loans with Royal Bank of Scotland (RBS). “We went over our overdraft limit and we did not hit revenue targets,” said Ramsay.  In New York alone Ramsay was losing £2m a year, despite winning two Michelin stars. ...