This really was a big news week. SMEs are paying more than $130k to resolve disputes, Revsum began trading on the ASX and Laura Ashley went into administration for the second time.
Dynamic Business chose the best news of the week.
SMEs paying more than $130k to resolve disputes
According to new research small businesses in Australia are paying more than $130,000 to resolve a dispute through formal pathways. This is double the cost of a decade ago
Releasing the results of the Access to Justice Inquiry (Phase I) research, the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell said payment times and terms remain the biggest cause of disputes.
Revasum lists on the ASX
Another company will start trading on the Australian Securities Exchange (ASX).
Revasum, Semiconductor equipment company, will commence trading on the ASX today following the successful completion of its Initial Public Offering.
Laura Ashley falls victim to administration
With a string of retail outlets falling victim to tough conditions, Laura Ashely has yet again gone into administration. This is the second time in two years. The retail outlet has stores in all Australian cities.
Administrators from insolvency firm KordaMentha have been appointed to the group’s Australian business.
Tune in next week for more news!