CFOtech UK - Technology news for CFOs & financial decision-makers

Liquidation stories

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Dick Smith Electronics' Liquidation reveals grim financial state after seven years
Fri, 1st Sep 2023
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cios
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financial results
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dick smith
KPMG's latest report on Dick Smith Electronics' liquidation reveals NZ$245.5M in secured debt and ongoing legal battles.
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Aryza launches financial software solution in UK and Ireland
Thu, 20th Jul 2023
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it automation
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liquidation
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financial software
The platform is designed to help businesses to optimise receivables management and generate more liquidity, according to the company.
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$1.5 million owed to creditors in collapse of WhitelabelNZ
Thu, 16th Feb 2023
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pledgeme
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distributors
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liquidation
We summarise the creditors and financial position of third part sales agency WhiteLabel which is now in liquidation.
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It's official, WhiteLabel NZ goes into liquidation
Mon, 16th Jan 2023
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pledgeme
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distributors
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crowdfunding
The story of WhiteLabelNZ has ended abruptly with the company's liquidation following an unsuccessful fundraising campaign.
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Whitelabel NZ fundraising effort fails to meet goal
Mon, 5th Dec 2022
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crowdfunding
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pledgeme
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distributors
Whitelabel NZ's failed fundraising campaign and alleged misleading information about its business practices have raised concerns.
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The imminent failure of WhiteLabel NZ, liquidation next?
Thu, 1st Dec 2022
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pledgeme
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distributors
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crowdfunding
Outsourced sales & marketing company, WhiteLabel NZ, faces financial troubles as staff leave & funds are owed. #BusinessNews #WhiteLabelNZ.
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Up to $2.4 million shortfall in the collapse of IndeServe
Fri, 1st Jul 2022
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bi
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big data
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data analytics
Networking service provider IndeServe has appointed liquidators, with a potential shortfall of between $1 million and $2.4 million.
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Longstanding Kiwi field service contractor Indeserve in liquidation
Fri, 3rd Jun 2022
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cloud services
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bi
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big data
IndeServe, a longstanding local service contractor that has worked with companies including IBM, Fujitsu and Datacom, has voluntarily filed for liquidation.
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NFT trends and opportunities: expert reveals all
Fri, 13th May 2022
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cryptocurrency
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blockchain
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vr
The NFT market is growing at an exponential rate, with unprecedented liquidity. Here we explore how businesses can profit.
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Hills and Milestone Systems to trade punches in court
Fri, 16th Feb 2018
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video
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saas
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martech
Hills Ltd contests Milestone's call for its liquidation, alleging power misuse ahead of court clash.
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UPDATED: ATEED in talks with BizDojo Auckland liquidators to discuss recoveries
Fri, 2nd Feb 2018
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bizdojo
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co-working spaces
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business
The liquidator first report states that BizDojo Auckland Ltd has not been able to provide a balance sheet and does not own any assets.
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Dick Smith creditors vote for liquidation of failed company
Tue, 26th Jul 2016
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apple
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technology gifts
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acer
Dick Smith Holdings creditors have voted to place the failed business into liquidation in a last ditch effort to recoup some of their lost money.
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Books close on Mecari with 13.86 cents in the dollar payout to creditors
Mon, 11th Jul 2016
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ird
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mecari
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synnex
Unsecured creditors of failed POS distributor Mecari, previously known as Pos Pos, have received small payments as the company's liquidation winds up.
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Mako: Spark owed $26.9m, little chance of funds for unsecured creditors
Wed, 25th Nov 2015
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physical security
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ird
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mako networks
Spark NZ was owed $26.9 million when Mako Networks went into receivership, with little chance of unsecured creditors recouping their funds.
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Mako Networks sold to US provider
Wed, 7th Oct 2015
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physical security
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compliance
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patents
United States telecommunications service provider D&S Communications has acquired the assets of Mako Networks from the company’s receivers.
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Mako Networks debts top $30 million; $25m deficit expected
Wed, 9th Sep 2015
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physical security
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email security
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london
​Failed network management company Mako Networks has liabilities of more than $30 million, with an estimated deficit of $25m expected.
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Spark calls in receivers for Mako Networks
Tue, 25th Aug 2015
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physical security
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intellectual property
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mako networks
Mako Networks in liquidation, Spark steps in as secured creditor to appoint receivers, thwarting the tech firm's financial tailspin.
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Liquidators of China milk exporter may claw back $145,200 from Chinese directors
Tue, 14th Apr 2015
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ird
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ncf international
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nz
Liquidators of a failed milk exporting company, which became insolvent after losing an unfair dismissal case with employees, may force the company's C.
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Springpark developer Gapes liquidates 'unused entity' as part of tidy-up
Mon, 13th Apr 2015
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construction
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investment
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auckland
Tony Gapes, the developer building Springpark, which is among Auckland's largest residential projects, has liquidated one of his investment vehicles,.
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Veritas says failure of four Mad Butcher franchisees 'coincidence of timing'
Tue, 7th Apr 2015
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veritas
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veritas investments
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liquidation
Veritas Investments, the food and beverage investor, has responded to media reports about the financial health of its Mad Butcher brand by saying the.
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Shanton administrator says troubled clothing chain has $4.4 million shortfall in assets to debt
Wed, 11th Feb 2015
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shanton fashions
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holiday pay
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liquidation
Shanton Fashion's debt crisis deepens, with a reported £4.4m asset shortfall as creditors face a dire decision.
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Kiwi distie iData in liquidation
Mon, 9th Feb 2015
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storage
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cloud services
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microsoft
Auckland-based distributor iData Resolutions has been put into liquidation, with Dennis Clifford Parsons appointed as liquidator on 21 January.
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NZF in due diligence for reverse listing
Fri, 7th Nov 2014
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shares
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restructure
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liquidation
NZF Group, the listed financial services shell company blocked from liquidating by its major noteholder this year, is in due diligence for a possib.
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Maclean Computing 'frustrated' by conspiracy theories
Wed, 1st Aug 2012
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customers
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maclean computing
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management
Chris Maclean, chief executive of Maclean Computing, has spoken out against ‘conspiracy theories’ surrounding the demise of the company, which went into liquidation last month.