Insolvency
‘A very sad day’: Dion Lee to wind up after failure to find saviour
After three months of searching for a buyer, the troubled business, once the pinnacle of Australian fashion, will close permanently.
- by Melissa Singer and Jessica Yun
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Australian cricket
Cricket tour company traded insolvent for three years before collapse, liquidator says
Dozens of young players and top coaches were left high and dry by the $3 million failure of Calypso Destinations and its director is under the microscope.
- by Chris Barrett
‘Sell the Navara’: How a $1b fintech founder wound up with $6000 in the bank
Phillip Kingston, who once rubbed shoulders with Silicon Valley billionaires, sold his last two assets – a ute and a membership to a golf club – before he was declared bankrupt.
- by Sarah Danckert
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Mergers & acquisitions
‘Sleeves are rolled up’: New Booktopia boss on revitalising the business
Booktopia has been rescued by the owner of online camera store digiDirect, Shant Kradjian, who is adding 100 jobs back to the collapsed bookseller.
- by Jessica Yun
‘A greater risk for employees’ in Sydney: Our economic challenge in three charts
NSW is an economic and business powerhouse. But higher interest rates and a disproportionately large share of insolvencies is putting that to the test.
- by Matt Wade
Directorship cloud over failed mining group involving financier Simon Raftery
An administrator’s report on the group that ran the Wilkie Creek coal mine details the possible involvement of shadow directors in the company’s operation.
- by Anne Hyland
‘We’ve lost a cylinder in a four-cylinder engine’: Insolvency help soars as economy struggles
There’s been an “astonishing” increase in the number of administrators appointed to struggling firms, in a further sign the overall economy is struggling.
- by Shane Wright
Millers, Noni B, Katies company’s share price plummets as it navigates financial distress
The $7.6 million company was forced to reveal it is seeking advice from Deloitte as it struggles to make sales.
- by Jessica Yun and Anne Hyland
‘It ends up just being a bloodbath’: Why plucky, third player Rex Airlines came unstuck
A graveyard has filled with airline groups that have tried and failed to challenge the duopoly in the skies, from Compass to Tiger Airways and Bonza. Rex is just the latest.
- by Anne Hyland
Albanese lays blame on Rex as finger pointing heats up
Prime Minister Anthony Albanese said the regional routes that Rex provides must continue, but its decision to move into capital city services had been misguided.
- by Amelia McGuire
Updated
Aviation
Rex collapses with 600 jobs at risk as all capital city flights axed
The airline has cancelled all flights between major airports after halting its domestic 737 services, prompting Virgin and Qantas to offer free rebooking for Rex customers.
- by Amelia McGuire