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News

• ​Quickflix goes into voluntary administration

  ASX-listed video streaming and DVD rental company, Quickflix, appointed Ferrier Hodgson as voluntary administrators on Tuesday.
  

• Australian businesses failures on the rise

  The number of Australian companies going out of business spiked during the June quarter, according to a global survey from Dun & Bradstreet

• Insolvencies climb 10% in April

  The number of companies declaring insolvency is on the rise, according to research from liquidation company Dissolve, and fewer businesses are escaping administration

• Worldwide Entertainment enters administration

  Media distribution company Worldwide Entertainment (ASX:WWG) has placed an operating subsidiary into administration due to the impact of the strong AUD on revenue and cashflow

• Entellect buys back vPublisher assets

  Educational software company Entellect (ASX:ESN) has picked up the operating assets of VCI, a former subsidiary now in liquidation, from VCI's liquidators

• Connxion halves FY11 revenue forecast

  Data and transaction services company Connxion (ASX:CXN) has cut its FY11 revenue forecast to $17-19m, from $38m, as a result of winding up its managed services business

• Synergy Plus enters administration

  IT services company Synergy Plus (ASX:SNR) has appointed administrators after GE Capital instructed it to repay its entire financing facility by next month

• Jumbo Interactive cleared to wind up Manaccom

  One of Australia's oldest software distributors, Manaccom, will be wound up now that creditors have accepted parent Jumbo Interactive's (ASX:JIL) deed of arrangement for it

• Cellnet served with $1.2m recovery claim

  Cellnet (ASX:CLT) plans to “vigorously defend” against court action by administrators for Leading Solutions, seeking recovery of $1.2m in funds

• QRSciences (ASX:QRS) unit enters administration

  QRSciences PLC, an unprofitable subsidiary of security technology company QRSciences (ASX:QRS), has entered administration

• Alpha (ASX:ASU) cleared to delay 2009 AGM again

  In-administration sensor technology developer Alpha Technologies (ASX:ASU) has been cleared to again delay its AGM, this time until October 20

• Biron Apparel (ASX:BIC) enters administration

  Directors of clothing company Biron Apparel (ASX:BIC) have placed the company into administration, possibly due to capital raising difficulties

• Harvey Norman (ASX:HVN) buys up 32 Clive Peeters stores

  Harvey Norman (ASX:HVN) has bought up 32 Clive Peeters (ASX:CPR) stores but plans to retain the existing staff

• Ultrapay calls EGM in advance of relisting

  And reappoints auditor Ernst & Young to prepare the accounts missed while in administration

• Alpha delays AGM due to administration

  The company has permission to delay the meeting until no later than August 3