Insolvency
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
Latest
‘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
A $180m deal was meant to rebuild Simon’s fortunes. Six months on, he struggled to scrape together $1m
Wilkie Creek coal mine was meant to revive the fortunes of Simon Raftery’s private credit firm. Instead, he lost colleagues, his house and became entangled in multiple court battles.
- by Anne Hyland
Analysis
Analysis
New reforms welcomed after significant jump in bankruptcies
A likely reason for the spike, apart from higher interest rates, is the ATO’s resumption of collection of outstanding taxes after a pause during COVID.
- by John Collett
Booktopia axes 165 jobs as administrators field interest from 60 parties
Barely two dozen employees remain at the embattled book retailer whose administrators found the business didn’t have the funds to retain them.
- by Jessica Yun
Opinion
Booktopia
A series of unfortunate events: Demise of Booktopia is a page turner
A blindingly bright-coloured flag appeared only a month ago when the listed company told the market that directors’ fees for the year would be paid by issuing shares, rather than in cash.
- by Elizabeth Knight
Updated
Booktopia
Online bookseller Booktopia enters voluntary administration; Dymocks circles
The embattled retailer has appointed voluntary administrators after several months of trying to secure funding.
- by Jessica Yun