Business failures, costly decisions and the lessons they leave behind.
The full archive, in the appThe Australian buyer's agency entered voluntary liquidation on 28 May 2026, leaving at least 700 clients as unsecured creditors after big up-front payments.
Read the caseSeven years after entering India, the world's No.2 dairy player shut its dairy business there — premium pricing and cold-chain costs never cracked the market.
Read the caseBEL Bracken simulated $133 million of purchases with circular bank transfers and false invoices, harvesting GST refunds in New Zealand's biggest tax fraud.
Read the caseThe first club in any sport to pass US$1bn in revenue shopped at the top of every market, skipped the future stars, and priced itself into a debt crisis.
Read the caseAustralia's 50-year barbecue retailer entered administration in February 2026 after $30 million of losses across three years.
Read the caseNearly 9 million people applied for Bajaj Housing Finance's 2024 IPO and 16% of bids failed — the worst rejection rate since the 2022 LIC offering.
Read the caseThe prime minister's 'she can go' ended Christine Holgate's tenure over gifted watches; a Senate inquiry later found she was denied natural justice.
Read the caseThe farm-to-door pioneer expanded into full groceries in 2016 while losing $1M-plus a month; in March 2018 it entered administration and shut immediately.
Read the caseAstaka's management called RM125 million of contractor demands immaterial and misled its own audit committee — SGX ordered its executive director out.
Read the caseFounded by two teenagers with A$3,000, the app developer hit 350 staff and US$19M revenue — then liquidated days after its Forbes-listed fame.
Read the caseA currency-conversion error left fares live for 12+ hours on ANA's Vietnam site; ANA first promised to honour them, then cancelled and refunded everything.
Read the caseCFO Lulu Lim Beng Kim submitted unaudited, false financial statements that won trade financing from 16 institutions — losses 'unprecedented and staggering'.
Read the caseThe online beauty retailer was valued like a tech company at the e-commerce peak; by late 2023 its market cap had fallen more than $500M to a 71c low.
Read the caseJudicial managers found 200+ duplicate-invoice financings and $1.6B of receivables that shrank to $136M overnight at the oil trader.
Read the caseThe Ripon scheme was sold as cutting storm overflows into the River Ure by 75%; the company now admits discharges fell only about 43%.
Read the caseThe bank said it 'strongly distrusts' Xihe's management after $208.1M went to Hin Leong 'for no valid commercial purpose' amid a billion-dollar insolvency.
Read the caseFour years into its 5G licence the operator had covered 58% of promised localities; regulators weighed cancelling the concessions outright.
Read the caseThe Trek 2000 founder pleaded guilty to falsifying accounts — by 2015 licensing income was inflated 666%, propped by a forged bank document.
Read the caseIBAC heard intercepted calls admitting trains went unsprayed while an official covered up for three years; V/Line sacked its CEO and killed the contract.
Read the caseNikkei Business exposed $926M and ~$400M of Westinghouse impairments Toshiba never disclosed — a second cover-up on top of the ¥151.8B overstatement.
Read the case