Latest Financial Restructuring News

Collins Foods has agreed to transfer 20 of its 27 Australian Taco Bell restaurants to a new partnership involving Taco Bell’s parent company, marking a decisive step in its strategic exit from the brand.

Genetic Technologies Limited remains under voluntary administration while progressing a Deed of Company Arrangement and has completed the sale of its geneType business, ending the quarter with $270,000 in cash.

KMD Brands has requested a voluntary suspension of its shares on both the NZX and ASX as it finalises a capital raise, refinancing, and its half-year financial results. The suspension aims to maintain market order while key details remain under negotiation.

WA Kaolin Limited has announced a $34.9 million recapitalisation plan involving a non-renounceable entitlement issue and debt conversion to strengthen its balance sheet and fund operational improvements at its Wickepin kaolin project.

Little Green Pharma has terminated its planned sale and leaseback of its Western Australian production facility after failing to reach commercial terms, choosing to retain ownership without impacting operations.

Metro Performance Glass reports solid operational gains and a stronger balance sheet amid ongoing construction market challenges, though revenue falls short of earlier forecasts.

NTAW Holdings has secured an extension of its financial covenant waiver from Commonwealth Bank, easing short-term credit pressures while continuing repayments on its borrowing facility.

ADX Energy has secured a crucial extension on its loan note repayments, unlocking financial flexibility to advance multiple drilling and development projects across Austria and Italy.

Mineral Commodities Limited has completed the sale of its Skaland Graphite Project in Norway for USD 8.75 million as part of its voluntary administration process. The transaction marks a significant step in the company’s restructuring efforts.

The NSW Department of Planning and Environment has approved a six-year extension for the Dartbrook underground coal mine, pushing its operational horizon to 2033 despite ongoing financial administration challenges.

Pure Foods Tasmania reports a $6.85 million half-year loss, driven by a strategic operational reset and loan covenant breach, while showing signs of stabilisation and margin improvement.

APC Minerals has announced the departure of CEO Matthew Shackleton, who led the company through challenging times including the stalled Lake Wells Sulphate of Potash Project and recent voluntary administration.