Australian activewear brand Stax is trying again after collapsing earlier this year with almost $24 million in liabilities. New owners are offering up to $1.7 million in store credits to customers who never received their orders. Stax went into receivership in June and liquidation in July. A private investor group led by Justin Truong and
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Shared Beginnings, a childcare operator with seven centres across Queensland, Victoria and the ACT, went into administration on Monday. Its owner, private lender Finexia Financial Group, told staff the centres had been running at a loss. All seven centres are still open and care is continuing as normal while administrators from DVT McLeods look for
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Australian businesses worried about losing their .com.au or .net.au web address can breathe a little easier. The domain regulator auDA has revised a controversial plan to overhaul its registration rules. Under the new approach, existing domain holders will keep operating under the current rules. Only people applying for new domains would face the tighter requirements.
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Reserve Bank deputy governor Andrew Hauser has told a Sydney investment conference that the inflation outlook is “materially worse” than the central bank had forecast, and that another rate rise could come as soon as November. Annual inflation currently sits at 4 per cent, according to the August consumer price index, well above the RBA’s
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