Tag: voluntary administration
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Max Brenner Placed into Voluntary Administration
Chocolate cafe chain and luxury chocolaterie Max Brenner went into voluntary administration yesterday morning. The company cited declining sales and rising costs for the downfall. Talk of closing the stores began as early as August last year, with the Packer family’s Consolidated Press Holdings offering to save the business. At that time, Max Brenner owed…
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Channel Ten enters voluntary administration
Australian free-to-air network Ten has gone into voluntary administration. The decision comes after its main financial supporters (James Packer, Lachlan Murdoch, and Bruce Gordon) refused to provide a $250 million loan to replace the $200 million overdraft which the network owes to the Commonwealth Bank of Australia. The three billionaires backed out due to the…