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Insolvency

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Nearly $60 million in customer money mixed up at collapsed broker

Nearly $60 million in customer money mixed up at collapsed broker

Halifax collapsed before Christmas, freezing $210 million invested by its 12,000 plus clients. Now up to $25 million of investor money is missing.

  • by Sarah Danckert

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28 Napoleon Perdis stores shuttered as chain put up for sale
Napoleon Perdis

28 Napoleon Perdis stores shuttered as chain put up for sale

Home-grown cosmetics chain Napoleon Perdis was teetering on the brink of insolvency for almost a year before it finally collapsed. 

  • by Patrick Hatch
RCR Tomlinson fire sale continues but 300 WA jobs to be saved
Mergers & acquisitions outlook

RCR Tomlinson fire sale continues but 300 WA jobs to be saved

NRW said the successful sale of businesses representing the majority of RCR’s WA operations preserves the jobs and entitlements of about 300 employees.

  • by Hamish Hastie
'Sick of being milked for money': How Napoleon lost his beauty empire
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Napoleon Perdis

'Sick of being milked for money': How Napoleon lost his beauty empire

Napoleon Perdis has blamed "greedy landlords" and a shift to online retailing for the shock collapse of his $120 million beauty business.

  • by Andrew Hornery
Make-up empire Napoleon Perdis collapses with hundreds of jobs at risk
Makeup & nails

Make-up empire Napoleon Perdis collapses with hundreds of jobs at risk

Make-up mogul Napoleon Perdis' eponymous retail cosmetics chain has collapsed and has been put up for sale, with hundreds of jobs at risk if new owners can't be found. 

  • by Patrick Hatch, Andrew Hornery & Carolyn Cummins
Sportswear manufacturer SKINS applies for bankruptcy in Swiss Court
Retail

Sportswear manufacturer SKINS applies for bankruptcy in Swiss Court

A trustee will be appointed to assume responsibility for the company with almost immediate effect, chairman Jaimie Fuller announced on social media and his ‘watercooler’ SKINS website.

  • by Sumeyya Ilanbey
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'Red flags': Liquidator airs concerns over Appster's final days
Software

'Red flags': Liquidator airs concerns over Appster's final days

Furious Appster clients say they transferred large sums of money in the fortnight before the company announced it was going into liquidation.

  • by Charlotte Grieve
'Paranoia set in': chaos at the end of Appster
Apps

'Paranoia set in': chaos at the end of Appster

Appster was founded by then-teenagers Josiah Humphrey and Mark McDonald and had hopes of reaching unicorn status. Now, it's in liquidation and former clients are furious.

  • by Charlotte Grieve
Is ASIC about to cook up a case against Foodora?
CBD
Insolvency

Is ASIC about to cook up a case against Foodora?

Having appointed administer Simon Cathro of Worrells Solvency, Foodora was in an almighty tax fight after being forced to classify its cyclists as employees, not contractors.

  • by Kylar Loussikian & Samantha Hutchinson
After losing everything, this WA subbie is on a mission to clean up the building industry
Insolvency

After losing everything, this WA subbie is on a mission to clean up the building industry

As the economy slowed and lowball contract bids ran rife through the building sector, Terry Delane was increasingly dealing with non-payments and insolvencies.

  • by Hamish Hastie
Demerit system to protect WA subcontractors from dodgy builders
Insolvency

Demerit system to protect WA subcontractors from dodgy builders

A report investigating reforms in WA's building industry was released on Tuesday, making 44 recommendations to combat the high rate of insolvencies.

  • by Hamish Hastie