so it's like bankruptcy, but for companies?
this post was submitted on 30 Oct 2023
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Voluntary administration is more like the no asset procedure that comes before bankruptcy.
Liquidation is like bankruptcy for companies, where all hope is lost and people who are owed money make claims and sometimes get some of it back when the liquidator sells all assets.
I guess voluntary administration is more like having someone appointed to take a look and decide if it's salvageable (sell company to new owner) or not (sell assets and close company).
It looks pretty bad though, I'd guess liquidation is on the cards.
Dam that's really sad to see. I should have used supie more but I was stuck in my routine of going past my local supermarket
My shopping was done in like 5 minutes, and my order arrives the next day. It was great. Some things were more expensive, but I gained basically half a day every weekend not walking around the supermarket.
What does this say about our sorry state of affairs with supermarkets?
The two we have are ripping us off, and competitors struggle to survive.
Yet the best our commerce commission can do is go “please play nice”?