A number of established businesses collapsed in 2015, the latest addition being health retailer GNC Livewell which went into Administration earlier this week. While we warmly welcome Prime Minister Turnbull's
much anticipated and positively received innovation announcement on 7 December, this may still take some time to be implemented. These changes will help pave the way for long overdue restructuring and insolvency law reform inAustralia.
The year 2015 was another plagued by business collapses throughout its span, with some well-known brands falling into external administration just weeks out from Christmas. But some of the businesses to collapse this year stand out as more notable than others due to the longevity of the business, the impact on employees or for what the collapse said about the challenges facing a particular industry.