Latest Restructuring News

Aguia Resources has begun commercial Pampafós phosphate production in Brazil and improved Santa Barbara gold recoveries, but its annual report carries a material going-concern warning. A Brazilian court has also declared the Três Estradas environmental licensing process null, leaving the company’s flagship new operation exposed to an unresolved legal fight.

Energy World Corporation has reported a US$448.2 million FY2026 loss after impairing its Pagbilao power plant and Australian assets, while the group’s survival remains tied to completing a staged US$350 million turbine sale. The audited report also recasts the Pagbilao LNG Hub as the centrepiece of the company’s next phase, but flags material uncertainty around going concern.

Ridley Corporation’s first full reporting year with the Incitec Pivot Fertilisers distribution business produced a sharp lift in underlying earnings and cash flow, despite a steep fall in statutory profit after a $31.8 million NovaqPro impairment. Management expects earnings growth across all three segments in FY27, but the enlarged group now carries significantly more debt and integration work.

Enprise Group’s revenue rose 6% in FY2026, but a sharp earnings deterioration, tight liquidity and an auditor-highlighted going concern uncertainty have left its recovery plan dependent on cost cuts and fresh funding. The NZX-listed software group is targeting a return to profitability in FY2027 after refinancing and restructuring its largest business.

Vection Technologies delivered its first positive full-year operating cash flow and a sharp rise in adjusted EBITDA in FY26. Yet the audited report warns that continued operations depend on stronger sales, margin gains, cost reductions and potential access to further capital.

Gowing Bros’ FY2026 loss widened to $3.49 million as Surf Hardware International remained deeply loss-making and investment properties were marked down by $3.0 million. The ASX-listed investment company kept its fully franked final dividend at 3 cents per share, despite negative operating cash flow and lower cash reserves.

Cann Group’s FY2026 profit was transformed by a one-off A$55.7 million debt-forgiveness gain, while a leaner cost base and new export sales offered more durable progress. The company remains loss-making on a normalised basis and dependent on lender waivers and a future refinancing.

Compumedics Limited (ASX:CMP) returned to profit in FY26 as record revenue, stronger cash generation and a sharp rise in MEG and SaaS sales reshaped its earnings profile. The company enters FY27 with A$28.3 million of open orders, but lower gross margins and uneven US and European execution remain key tests.

Paradigm Biopharmaceuticals has entered voluntary administration after its pivotal Phase 3 trial produced an interim efficacy result below the threshold required for continuation. The company’s securities will remain suspended while administrators assess its viability, liabilities and possible restructuring options.

Locate Technologies lifted FY26 revenue and grew its Locate2u software business, but a A$4 million debt facility due in November has left auditors flagging material uncertainty over its ability to continue as a going concern. The company ended the year with negative net assets after its loss more than widened.

The Warehouse Group (NZX:WHS) returned to profit in FY26 and cut net debt by more than 80%, despite broadly flat comparable sales. The recovery came with a clear catch: The Warehouse brand remains loss-making and shareholders will receive no final dividend.

AdNeo Limited (ASX: AD1) nearly doubled operating revenue in FY26 and delivered its first full-year operating cash inflow, marking a sharp turnaround after the Learnt Global acquisition. The recovery remains incomplete, with a $3.97 million loss, significant current liabilities and an auditor-drawn material uncertainty over going concern.