$1 million rescue fund for cafes
One of Australia’s leading coffee roasters is launching a $1 million relief fund for struggling cafes. But the number of businesses set to benefit from grants is limited.
City Beat
Construction boss cops four-year ban
A Brisbane construction industry player found to be involved in the management of three failed companies with collective debts of $2.1m has been slapped with a ban.
Queensland firm tanks as partners feud
Feuding business partners and the economic slowdown have caused the owner of a six-year-old Queensland company to pull the plug, with liquidators appointed to wind up the business.
Sunny Queen boss heads for the exit after 18 years
It’s time for Sunny Queen Australia boss John O’Hara to get cracking, if you’ll excuse the pun.
Doubts intensify over island makeover
It was supposed to be part of an ambitious $1.6 billion tourism redevelopment scheme, but now there are growing doubts over whether cyclone-ravaged Dunk Island will be brought back as a premier resort destination.
Spaghetti House boss Claire Parviz winds up West End eatery
Respected Brisbane hospitality identity Claire Parviz has pulled the plug this week on her pasta business and Italian eatery CJ’s Pasta and Cafe in West End.
Bartercard boss aims to surf in on cryptocurrency wave
The Gold Coast group running Bartercard has jumped on the cryptocurrency bandwagon in a big way
Boss of aggressive short-seller firm steps down
The boss of a leading Brisbane hedge fund known for its aggressive short selling tactics has mysteriously stood down, admitting companies who he’d led attacks on ‘would be popping champagne bottles’ at the news of his departure.
Outrage as credit union buys $1.35m mansion for executive
A very senior executive at a leading credit union is living in a $1.35 million home that was bought especially for him by the group’s parent company, sparking outrage from stakeholders.
Size matters: Rich listers do battle over $10K bet
One of Australia’s richest men has demanded a $10,000 bet with a Queensland rich lister after the Brisbane man made a bold claim on Twitter that has sparked a war of words, with both men now keen to put their money where their mouth is.
ATO questioned about role in $7m family company collapse
The ATO took a second mortgage over a factory owned by a 75-year-old family company six months before it collapsed. Now administrators are asking why.
Glitter Strip lending firm collapses owing $900K
A firm specialising in short-term loans on the Gold Coast tourist strip has gone under, leaving a list of creditors owed just south of a million dollars.
‘Ropeable’: Franchisee anger over company’s COVID brag
This business boss claimed that his company was performing “embarrassingly well” during the coronavirus crisis. But it turns out his franchisees aren’t feeling the same joy.
Qld suburb revealed as a national bankruptcy hotspot
A suburb in the heart of Brisbane’s mortgage belt has been named one of the country’s bankruptcy hotspots, and an insolvency expert has revealed what one of the main causes has been.
Prominent legal name makes comeback
Once prominent in the Queensland legal scene, a big-name law firm is set to make a comeback with headquarters in Brisbane’s CBD with a branch southwest of the city.
Operators of waterfront retirement community go bust
Liquidators have been called in to wind up a company that owned a waterfront retirement resort and it didn’t have didn’t have adequate capital to buy back properties from residents who had decided to vacate.
Brisbane miner in administration after $26.4m loss
The two remaining directors of a Brisbane-based mining company which racked up losses of $26.4 million last financial year have called in voluntary administrators.
Brisbane battery hopeful chasing up to $22.9 million in fresh funds
A Brisbane company surfing the growing global need for batteries hope to raise nearly $23 million to keep going as it continues to suffer big losses
Brisbane tech start-up named one of the best in the world
A Brisbane tech start-up has just received a shock shout out as one of the best of its kind in the world
New $754,000 man takes over nation’s biggest KFC operator
One of Australia’s biggest fast food groups has confirmed its well-flagged passing of the torch will proceed as planned with the new CEO set to pocket $754,000 and quite a bit more if all goes well
Vinnies poised to reap far less money from CEO Sleepout
The annual Vinnies CEO Sleepout next week will be a virtual event online set to generate far less money than previous years
DIY flu kit maker fails to float as huge losses keep piling up
Despite a committed bunch of ultra-wealthy investors willing to back this Brisbane medical firm, it continues to lose money and has yet to float on the ASX.
Clubs Queensland boss quits amid bleak future
He took the helm of Clubs Queensland during one economic shock and has left the organisation as it emerges from another, which he thinks will decimate the sector
$400K debt: Company dying while fighting for a noble cause
A Brisbane company that aimed to produce a hi-tech tool for our returned troops struggling with mental health issues has gone into administration and will almost certainly face liquidation, despite its noble cause, owing more than $400,000 to creditors.
How COVID-19 propelled Brisbane bizoid into stratosphere
A Brisbane entrepreneur who co-founded an online food ordering platform last year just hit a huge milestone.
First profit for resources minnow
A scrappy Brisbane resources minnow, which claims to be the biggest onshore gas producer in the Northern Territory, has just served up its maiden net profit for the half-year to December
Potential fracking triggers alarm
Anti-fracking activists have accused the Queensland Government of quietly granting special petroleum rights over huge areas of pristine river floodplains despite promises to protect them.
‘Next level’ outdoor cinema to bed down in Brisbane
In just a matter of weeks a Brisbane park will be filled with 150 beds and blankets ready for movie lovers to lie back, relax and take in a film under the stars, in a major first for Queensland. Here’s where and when you can catch a show.
Gas hunter dogged by red ink
A big question mark still hangs over the Brisbane firm aiming to develop one of Queensland’s largest untapped gas fields.
Good and bad news for 7000 flood victims
There’s mixed news for the nearly 7000 members of the class action who won their long battle to secure compensation for the devastating 2011 floods in Queensland.
Ex-nightclub owner’s $110m venture after coke bust
A wealthy former Gold Coast nightclub owner who was busted supplying cocaine to teenage girls has emerged as a key figure in promoting the development of a planned $110 million beachfront housing estate.
Savage takedown of Brisbane firm
A gang of hedge fund partners who have been a thorn in the side of a Brisbane firm for nearly 18 months have put the boot in again, launching another savage takedown and raising concerns over “10 red flags” in the firm’s latest results.
Clifftop cafe serves last drinks
It had million-dollar views and a clientele of the rich and famous, but this popular cafe is serving last drinks Saturday after losing a battle with City Hall.
Senior suspension hits beleaguered Public Trustee
There is never a dull moment at the Public Trustee of Queensland with a senior figure in the organisation suspended last week on full pay.
Kava pills set for the mainstream
The world’s first listed kava firm is based in Brisbane and has just had a huge week, with a major distribution deal and a $2.3 million capital raising.
Grazier disqualified from giving stock tips
A southeast Queensland grazier who doubled as a financial planner has run afoul of the corporate cop.
X Cargo cash flow woes laid bare in court
Lawsuits now in a Brisbane court reveal the financial drama that has beset a flashy bar and entertainment venue in Fortitude Valley.
New pay rise for hospitality workers may ‘wreak havoc’
Bar, cafe and restaurant owners say they face fresh pressure to survive thanks to new wage rules coming into effect this Sunday courtesy of the Fair Work Commission
Accounting stoush: Alleged wrongdoing called out
Allegations of corruption and dishonesty have emerged in a protracted legal battle between two Brisbane accounting firms who have been locked in a court battle almost two years.
Fresh details emerge in Equititrust battle
Liquidators of a failed Gold Coast fund manager suing two Brisbane law partners allege there are efforts to drag out the case and drive up its cost.
Two financial planners banned by corporate cop
The corporate watchdog has come down hard on a couple of Queensland financial planners with one receiving a permanent ban after lying to a client 19 times, alongside moving money and making trades without proper authority.
Coffee baron and embattled retail giant in bitter split
There’s been a bitter split between Brisbane coffee kingpin Phil Di Bella and one of Australia’s biggest retail groups.
In the dark: Staff revolt over Public Trustee shake-up
A union is now going in to bat for Public Trustee workers who claim they can’t get any straight answers about a dramatic shake-up of the deeply-troubled agency.
MP calls for police probe into builder’s liquidation
The collapse of a Sunshine Coast construction company has prompted an MP to call for a police investigation.
QIC’s shopping mall headache a long time coming
THE brutal retail downturn in the US is proving a headache for Queensland’s $80 billion investment powerhouse QIC with money managers scrambing for the exits.
Something’s up at Qld’s $80b investment powerhouse
It manages $80 billion in funds but City Beat hears some people have suddenly departed the Brisbane-based organisation after an investment in US shopping centres turned sour.
Cashed-up Brisbane tech firm to launch $12.3m US assault
A Brisbane video creation tech firm – cashed up with $12.3 million in new funding behind it and more than 8 million registered users worldwide – is set to launch a new bid to expand into the US.
Lacklustre: Why iconic jewellers are sinking
Valentine’s Day week should be one of their busiest periods but a number of big-name Queensland jewellers are struggling. Now, one expert has tapped into what he says is the reason for the sharp decline.
How bank plans to come to you
With the banking sector facing increasing disruption, one major lender has come up with a plan to take the business to the customer rather than the other way around.
Car czar Martin Roller back in driver’s seat
MARTIN Roller, who sold off his Brisbane-based luxury car company in 2018, is back in the auto business but this time he’s adopting an entirely new business model.
Original URL: https://www.couriermail.com.au/business/citybeat/page/22