Victory Offices appoints voluntary administrators but maintains company is solvent

 Co-working and flexible workspace services provider Victory Offices (ASX: VOL) has today entered into voluntary administration, citing the impact of COVID-19 on its operations as the reason behind its downfall.

However, the company maintains it is currently solvent, but notes it is likely to become insolvent at some future point in time - hence the appointment of DV Recovery Management (DVRM) as voluntary administrators.

In an ASX statement, Victory Offices says it is looking to recapitalise the business to ensure it can emerge from the period of voluntary administration in a stronger financial position.

Read More: https://www.businessnewsaustralia.com/articles/victory-offices-appoints-voluntary-administrators-but-maintains-company-is-solvent.html



Comments

Post a Comment

Popular posts from this blog

WHAT IS QUICKBOOKS?

Image
 Hi Everyone, I have been working with QuickBooks for more than three years. As a bookkeeper, I have never felt more satisfied with a tool that reduces your workload. Earlier, we used Microsoft Excel to do the calculations and record the entries. However, it was time-consuming and tedious. With the help of the accounting software, there is no need to worry about creating an invoice or tracking expenses of the business and saving the receipts. You can take a picture of the bill and save it using your mobile app. It is as simple as that with the help of the dashboard. I am sharing an article to explain this.     https://www.agibookkeeping.com.au/what-is-quickbooks/
Read more

Client advisory tech platform Lumiant turbocharges US push with $5.2m seed round

Image
 Sydney-founded Lumiant has locked in US$3.5 million ($5.2 million) of seed funds in order to bolster its pursuit of the US market and develop a mobile version of its advice and client engagement platform. Funding for the seed round came from Australian financial planning firm Invest Blue and returning investor US-based wealth management group Savant Wealth Management, and boosts the group’s capital raised to date to approximately $12 million. Securing the funding comes shortly after Lumiant received an investment in January from legendary financial advisor Ric Edelman who founded investment advisory giant Edelman Financial Engines. The terms of that financial support were undisclosed. Read More: https://www.businessnewsaustralia.com/articles/client-advisory-tech-platform-lumiant-turbocharges-us-push-with--5-2m-seed-round.html
Read more

Australian Venue Co makes a splash in WA with nine acquisitions

Image
 One of the nation's leading hospitality venue owner-operators is effectively doubling its footprint in the Western Australian market after reaching acquisition and asset swap agreements for nine properties in Perth. Adding to its 180-plus properties nationwide including some of Australia's most iconic pubs, bars and event spaces, Australian Venue Co (AVC) had reached deals to buy seven venues from Ark Group and two in an asset swap with Colonial Leisure Group (CLG). The company's portfolio will now include Scarborough Beach Bear, The Galway Hooker, The Peach Pit, Durty Nelly’s, Market Grounds, The Generous Squire, the Bassandean Hotel, the Raffles Hotel and The Royal. Read More: https://www.businessnewsaustralia.com/articles/australian-venue-co-makes-a-splash-in-wa-with-nine-acquisitions.html
Read more