Sydney – Page 17 – Michmutters
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Business

F45 co-founder Adam Gilchrist selling Freshwater, Sydney manor after stock market collapse

The picturesque Sydney beachside manor owned by F45 co-founder Adam Gilchrist is set to go under the hammer after the Australian fitness giant’s stunning downfall.

Mr Gilchrist (not the cricketer), who stepped down as F45’s chief executive last week amid stock plunges and company-wide lay-offs, is selling his “beachfront trophy home” at Freshwater on Sydney’s northern beaches.

The home, 52 Ocean View Rd, grew into infamy in 2018 when Mr Gilchrist and his wife Eli bought the property for a whopping $14m due to a minor neighborly dispute.

The couple had purchased a three-bedroom cottage on 50 Ocean View Rd for $5.4m in 2017 and planned to spend $2.5m to develop the property.

But neighbors complained it would not comply with building height or boundary controls, which led to Mr Gilchrist taking the extraordinary step of withdrawing his proposal and setting the matter by buying his neighbour’s bigger home for the obscene amount.

The $14m price was a record for the Freshwater suburb, with agents considering 52 Ocean View Rd’s mammoth coming out an outlier price.

But the three-storey home is again on the market, with real estate agents billing it as “unquestionably one of the finest homes and locations in Sydney”.

“Cutting-edge architectural design and an unsurpassed beachfront setting combine in this state-of-the-art luxury residence to deliver the ultimate designer beach house,” a description of the home reads.

“Set to a picture-perfect backdrop that sweeps over the surf to the ocean’s horizon and North Head, the tri-level residence showcases living spaces and lift access to all three levels and has been appointed and furnished with every conceivable luxury.”

The home’s features include five bedrooms, three bathrooms and giant retractable windows in the dining room.

Mr Gilchrist suddenly announced last week that he was stepping down as F45’s chief executive after co-founding the business with Rob Deutsch back in 2013.

The company also revealed it would be laying off 110 staff and cuttings its operational expenses, which caused its stock price to fall by more than 60 per cent.

F45 hoped that by reducing its corporate workforce by 45 per cent it could return to a positive cash flow.

Mr Gilchrist said he would be “forever grateful” as he exited the company.

“To the staff that have worked tirelessly since our inception, you have been incredible in your efforts, and I thank you for all of your support,” Mr Gilchrist said in a statement.

“To the investors that have joined us along our journey, I thank you for your commitment to F45.

“Lastly, I am forever grateful to our franchisees who deliver the world’s best workout each day to F45 members around the world.”

Mr Deutsch, who stepped down as chief executive and sold his shares in the company in 2020, said there were “enormous issues needing fixing”.

“Never in my wildest dreams could I have imagined this,” he wrote on Instagram.

“When I exited, and sold out of F45, I left a healthy, phenomenal, beast of a business. All the way from the company culture to the heart beat of the business… the workouts. F45 was special.

“I genuinely hope all of the 110 laid-off staff, find happiness and opportunities elsewhere.”

F45 was a global fitness powerhouse before its stock shock last week, with more than 1500 studios in 45 countries and Hollywood superstar Mark Wahlberg among its investors.

Mr Gilchrist made $500m overnight when the company went public on the New York Stock Exchange in July last year.

His northern Sydney home will be up for auction on August 27.

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Business

Australian crypto platform Immutable sacks 17% of staff despite plans to ‘hire aggressively’

An Australian crypto company valued at $3.5 billion is facing a fierce backlash after sacking 17 per cent of its staff from its gaming division, while continuing to “hire aggressively” after raising $280 million in funding in March.

The crypto platform, which is an Australian unicorn called Immutable, could be hit with legal action as the union questioned the validity of the redundancies.

The union called Games Workers Australia has disputed the number of staff members that were fired claiming it was at least 30 roles, while Immutable has insisted just 18 workers were let go.

The staff came from the company’s flagship video game Gods Unchained and were advised of the redundancies 24 to 48 hours before being told to leave.

Staff were fired from roles including video effects artists, senior engineers and a marketing director and the process involved a 30-minute company wide meeting last Monday.

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‘devastating news’

Game Workers Australia, a branch of Professionals Australia, said it is supporting staff from Immutable Games Studio who received the “devastating” news that they would be made redundant.

“Based on information we have received, Game Workers Australia believes there are at least 30, but potentially more, job losses at Immutable,” said Professionals Australia CEO Jill McCabe.

“Immutable has provided varying reasons to their employees as to why the redundancies were necessary.

“While some employees were advised that the reason for their redundancy was due to individual performance metrics, others were advised the cause was due to an organizational restructuring or the non-alignment of their role to business goals.

“While staff were advised that they were able to request information about other roles in the company, their were given the impression that they would not be suitable for these roles.”

However, an Immutable spokesperson said the restructure was a “difficult choice” and was performed to meet business goals, while individual performance was not a reason for any redundancies.

They added individual staff were given the opportunity to respond to the redundancies and most were found unsuitable for redeployment to vacant roles.

Hiring 80 more roles

Concerns have been aired that Immutable is still hiring for similar roles that were made redundant such as product managers and engineers.

An Immutable spokesperson said the restructure impacted 6 per cent of the total number of employees at the company and it continued to “hire aggressively”.

“As we grow, the nature of the expertise the company needs is changing. We needed fewer artists, unity engineers and card designers and are hiring more tokenomics experts, blockchain engineers and crypto product managers,” they said.

“We have established new roles for Gods Unchained which we will be hiring for over the next six months; in total we will be hiring more new roles into Gods Unchained than were made redundant.

“Immutable is growing from 280 employees today to over 360 by the end of the year.”

The company started the year with just 120 employees and has already more than doubled, they added.

Game Workers Australia also claimed that Immutable provided no opportunity for employees to respond to the company’s intention to make them redundant and most of the redundancies were advised and executed within 24 to 48 hours.

“Sadly, the experience of game workers at Immutable is emblematic of the broader problems across Australia’s growing $3 billion games sector,” Ms McCabe said.

“While game workers are highly qualified and skilled, wages are unsustainably low, the hours are long, and unpaid overtime is common.

“Many people burn out of our industry and leave before even making it to five years.”

But the Immutable spokesperson defended its process and said the company “followed a fair and consistent process in relation to the restructure that is in line with legal obligations”.

Earlier this year, Immutable’s founders James, 30, and Robbie Ferguson, 25 were one of 13 new entrants that placed on the Australian Financial Review rich list with an estimated combined wealth of $1.01 billion.

Tech sector bloodbath

Immutable’s staff are the latest casualties in the tech sector, which has seen a spate of companies firing staff as conditions get tougher.

Australian healthcare start-up Eucalptys that provides treatments for obesity, acne and erectile dysfunction fired up to 20 per cent of staff after an investment firm pulled its funding at the last minute.

Debt collection start-up Indebted sacked 40 of its employees just before the end of the financial year, despite its valuation soaring to more than $200 million, with most of the redundancies made across sales and marketing.

Then there was Australian buy now, pay later provider Brighte, that offers money for home improvements and solar power, which let go of 15 per cent of its staff in June, with roles primarily based on corporate and new product development.

Another buy now, pay later provider with offices in Sydney called BizPay made 30 per cent of its redundant workforce blaming market conditions for the huge cut to staffing in May.

Earlier this year, a start-up focused on the solar sector called 5B Solar, which boasts backing from former prime minister Malcolm Turnbull, also sacked 25 per cent of its staff after completing a capital raise that would inject $30 million into the business

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Categories
Sports

Transfer Whispers; Ben Hunt future; Gold Coast Titans bid; Martin Taupau, Manly, Sea Eagles, news, updates

Maroons star Ben Hunt is not short of suitors amid reports the Gold Coast Titans are ready to launch an audacious bid for his services.

news corp revealed that the Titans are considering a play to lure the Dragons captain north to from the 2023 season.

The Titans are believed to be one of six clubs trying to acquire Hunt’s services from at least the 2024 campaign.

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But considering he doesn’t come off contract with the Dragons until the end of next season, the Titans will have to wait until November 1st to submit an official offer.

It was reported last week that Hunt was set to sign a two-year contract extension with St George until the end of 2025.

“We have started the process to extend Ben, and we’re very hopeful we can keep him at the club long-term,” St George Illawarra chief executive Ryan Webb said.

Madge’s take on Tigers coaching plan | 02:04

“He is an important person on the field and has a tremendous impact off it.”

Hunt, who was leading the Dally M race before the count behind closed doors, signed a

mammoth five-year deal worth more than $5 million with the Dragons in 2017.

The 32-year-old has proven himself to be one of the premier players in the competition since, after starring in State of Origin again this year.

The party was well and truly on in Queensland as Hunt ran away for a long-range, game-winning try in the Origin decider in Brisbane last month.

But considering his age, it’s believed that he could commit to a smaller deal.

If Hunt does sign with the Titans, he would potentially line-up in the halves alongside another key signing in Kieran Foran.

The New Zealand international has signed a two-year deal which is reportedly worth $400,000 per season.

Dragons captain Ben Hunt is reportedly eyeing a move to the Gold Coast Titans. (Photo by Ian Hitchcock/Getty Images)Source: Getty Images

Before entering contract negotiations, Hunt revealed that he was happy playing under the “right coach” in Anthony Griffin at the Dragons.

“It’s no secret I enjoy being coached by Hook (Anthony Griffin),” Hunt said.

“I know we’ve had some setbacks for the past two games, but we’ve got the right foundation in place – and we have the right coach.

“I’m loving my time at the club and enjoying myself. I know I’m also getting to the back end of my career and want to win (a premiership).

“My manager will meet with the club next week so we’ll see what happens. I still think I’ve got at least three years of footy in me. I’m contracted for next year, and I’d like another two after that.

“I’ve been lucky with injuries. I don’t see why I can’t go until at least the end of 2025.”

Carrigan cops 4-game ban for tackle | 02:14

RABBITOHS SET TO LAUNCH BID FOR MANLY ENFORCER

The South Sydney Rabbitohs have reportedly entered the race to secure Sea Eagles’ prop Martin Taupau’s signature for the dawn of the 2023 season.

According to Zero Tackle, the club believe that Taupau would be a suitable replacement for departing prop Mark Nicholls, who will join the Dolphins for their inaugural season.

The Bunnies are reportedly set to table the 32-year-old a two-year contract which will see him at South Sydney until the end of the 2024 season.

The Eels were close to locking in Taupau for the rest of the season, however the Sea Eagles chose to wart the move in a last ditch attempt at securing a spot in the top eight come finals time.

If Taupau is to link up with the Rabbitohs for the 2023 season he would he would add to the club’s depth in the forwards joining the likes of Thomas Burgess, Liam Knight, Tevita Tatola, Davvy Moale and Daniel Suluka-Fifita.

With the Manly prop now in the latter stages of his career, a two-year deal with South Sydney could very well be his last in the NRL.

While the Dolphins have expressed an interest in Taupau, the experienced prop ideally wants to play for a club based in Sydney.

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Sports

Peter V’landys vs Dominic Perrottet, Stadium funding, Leichhardt Oval, Tigers, Knights, Sharks, Panthers

The NRL are holding the NSW government to ransom over an $800 million promise by taking the Grand Final to Queensland as the Sydney stadium wars potentially head to the courtroom.

The Sydney Morning Herald reported the NRL will consider all options after NSW Premier Dominic Perrottet refused to commit funding to rebuild suburban stadiums after a handshake agreement, with flood reconstruction his main priority.

“I find it appalling that they’re using human tragedy of the floods to renege on an agreement,” V’landys, told the Herald.

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Perrottet’s decision sparked an angry confrontation with V’landys in Parliament, with the NRL now resorting to tactics that could lead to a legal battle over the future of Stadium Australia at Sydney Olympic Park.

A 2018 agreement reached by the then premier Gladys Berejiklian, stipulated the NRL grand final would stay in Sydney until 2042 as long as Accor Stadium at Olympic Park was reconfigured into a 70,000-seat rectangular stadium, which would cost taxpayers $800 million.

However, the pandemic caused the government to backflip on the plan and relocate between $250 to $350 million to upgrading suburban grounds in Cronulla, Manly, Leichhardt and Newcastle.

Leichhardt Oval will have to wait for redevelopment.Source: Supplied

While the plans to develop suburban grounds is not in writing and therefore not rubber-stamped, V’landys is adamant the original Sydney Olympic Park agreement still stands.

The Herald reported that V’landys and the NRL will now hold the government to their original Olympic Park agreement, which is in writing, despite their preference being to develop suburban grounds.

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VERDICT: Broncos star cops four-game ban for controversial hip-drop tackle

TEAMS: Manly young gun dumped; Bellamy’s big Storm reshuffle

Andrew Abdo the Chief Executive Officer of the National Rugby League and Peter V’landys the Chairman.Source: Getty Images

“When you consider the billions of dollars they spent in the recent budget, the amount they need to honor our agreement is insignificant,” V’landy’s said.

“We will press that they honor the original agreement, which will cost the NSW taxpayer more due to the way they have handled this.”

The NRL are exploring its legal options and have one of the country’s most respected barristers, Alan Sullivan QC on the case.

Perrottet released a statement saying the government were committed to upgrading suburban stadiums over a period of time, given the natural disasters and pandemic that remain a more pressing priority.

“The government has just received the Floods Inquiry Report, which will likely require a significant cost to the taxpayer, and I note right now there are still 1,366 people without a home in NSW due to flooding,” Perrottet said.

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NSW Premier Dominic Perrottet.Source: News Corp Australia

“It should come as no surprise that my top priority is therefore supporting those devastated by the major floods across NSW.”

The development has forced the NRL to consider taking the Grand Final to Queensland in response to the NSW government failing to honor their agreement.

“Everything is now back on the table,” V’landys said.

“It will be a board decision, not mine.”

Sports Minister Stuart Ayres labeled plans to take the Grand Final to Queensland “an extraordinary move”.

“We’ve got to make sure that we make investments that are in the best interests of the people of NSW,” Ayres said.

Madge’s take on Tigers coaching plan | 02:04

“It just might mean that we have to wait a little bit longer before we can spend additional money on those venues.”

The government will put on hold plans to develop Leichhardt and Newcastle stadiums, but are committed to a new venue at Penrith, which has angered Tigers chairman Lee Hagipantelis, who blasted the government for their change of policy on developing suburban stadiums.

“The government’s management of its stadiums policy from the outset has been amateurish and embarrassing,” Hagipantelis told the Herald.

“I assume if the state government is to backflip on its commitment to fund suburban stadiums, then the $300 million committed to the Penrith stadium can now be better utilized for schools and hospitals?

“It would be outrageous for Penrith to retain its stadium for the obvious political benefit of its local member.”

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Categories
Sports

NRL news 2022: Patrick Carrigan suspended for four weeks after ugly hip-drop tackle

Broncos forward Patrick Carrigan has been suspended for four matches after he was found guilty of making dangerous contact in an ugly hip-drop tackle that fractured Jackson Hastings’ right fibula and damaged his syndesmosis during Saturday evening’s game at Suncorp Stadium.

Carrigan was referred straight to the judiciary for the tackle that Hastings has seen wiped out for the rest of the season.

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Hastings writhed in agony after he was held up by Broncos pair Cory Paix and Keenan Palasia, before Carrigan leant his weight to the tackle around the hips and landed on his opponent’s right foot.

Post-match, Tigers interim coach Brett Kimmorley called the tackle “horrendous.”

On a dramatic night at the judiciary, the NRL’s lawyer had asked for a ban of five to six matches to make an example of Carrigan while defense counsel Nick Ghabar had pushed for two weeks.

The panel of Dallas Johnson and Henry Perenara reached a unanimous decision that Carrigan’s actions had put Hastings in a vulnerable decision and that the penalty would act as a deterrent to other players.

“I’m very grateful to Nick and the NRL for a fair hearing,” Carrigan said.

“I’m a little bit disappointed with the result.

“I certainly didn’t have any attempt or malice in what happened, but I’m also aware that Jackson is going to miss a bit of footy. I wish him all the best with his recovery from him.

“My focus is to be as supportive as I can for the Broncos for the next four weeks.”

The Wally Lewis Medal winner from State of Origin made the trip to Sydney but didn’t give evidence at the hearing.

Instead, five angles of Carrigan’s tackle and a similar tackle by Dragons forward Josh McGuire against the Storm in Round 10 last year were used primarily during the case.

McGuire was hit with a grade three charge under the game’s old judicial code and was banned for five matches, although he did have carry-over points which added to his penalty.

The tackle on Melbourne’s Josh Addo-Carr did not result in serious injury, although the winger was forced from the field for seven minutes.

NRL judicial counsel Patrick Knowles referred to a memo sent by NRL head of football Graham Annesley to all 16 clubs on July 21, 2020 where he warned players about the hip-drop tackle that had started to creep into the game.

Knowles said that Carrigan’s tackle had all the same “hallmarks” and that it involved the dropping of weight from the hips and the trapping and twisting Hastings’ legs which created an obvious risk of injury.

Knowles asked the judiciary panel to suspend Carrigan for five to six games, pointing to the fact that Hastings required surgery to insert a plate and screws and that he would miss three to five months of footy as a result.

While he didn’t want “eye for an eye” retribution, he argued that Carrigan’s high level of force and carelessness should be punished severely.

Ghabar said his client only served a two-week ban given he showed contrition, had done everything in his power to actually limit the risk of injury on Saturday night and had only been charged twice during his 62-game career.

He pointed to a medical report from a third-party doctor that said the injury was exacerbated by the other tacklers pushing from the top, which twisted Hastings into a dangerous position and added weight to the tackle.

Ghabar said that it was a lot different to McGuire who landed directly on Addo-Carr’s foot and argued that the Dragons forward was reckless and that his actions bordered on intentional.

He went further, saying there were “mitigating factors” from the other two tacklers who twisted Hastings into a dangerous position while Carrigan actually “arched his back” to relive pressure on the foot.

Carrigan will be free to return in Round 25 when the Broncos play the Dragons.

—NCA NewsWire

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Sydney train strikes: Major cancellations, fines banned, network-wide impacts

Major train disruptions are set to return this month as NSW’s rail union reveals employees will strike every week to the end of August.

It comes after more than a year of negotiations between the state government and the Rail Tram and Bus Union (RTBU) over work conditions have failed to satisfy either party.

The major sticking point is the union’s claim that recently purchased New Intercity Fleet trains do not meet their safety requirements.

“We’ve done everything by the book in order to get these vital safety changes, but the government is refusing to listen,” RTBU NSW secretary Alex Claassens said in a statement on Tuesday.

“This is our only way of making sure that the safety changes that need to be made will actually be made.”

Strike action will begin this Sunday with a small gift to Sydney public transport users in the way of a ban on issuing fines and caution notices.

The real strike action begins next Wednesday as travelers on the T4 Eastern Suburbs and Illawarra line that runs towards Cronulla and Wollongong will have to make alternative travel arrangements for six hours.

Between the hours of 10am and 4pm, trains will not run on this line.

“It is frustrating,” Sydney Trains chief executive Matt Longland told 2GB radio station on Tuesday.

“We’ve been dealing now for more than 12 months working with unions as we navigate our way to a new enterprise agreement.”

Three more six-hour strikes will take place on August 17, 23 and 25 and will pinpoint different regions of the train network.

“We’ll do our best to minimize impacts to customers. There’s a whole lot of action that we’re managing around infrastructure and cleaning and those sort of things,” Mr Longland said.

The Sydney Trains boss is encouraging customers to use existing light rail and bus services while train lines are not running.

However, there are not enough replacement buses to cover such widespread outages.

“We only have a limited number of buses to be able to replace trains and the reality is we can’t provide that many buses,” Mr Longland said.

“I do want to acknowledge the frustration of customers and thank them for their patience.”

He is confident that the union and government are “very close” to finalizing the enterprise agreement.

“We are working really hard to get this resolved and we are certainly hopeful working with Minister Elliot that we can get an outcome,” he said.

Schedule for rail strike action in August:

August 7: Ban on transport officers issuing ends and cautions begins

August 10: Strike on T4 Eastern Suburbs and Illawarra line, including Bondi Junction 10am – 4pm

August 12: Ban on cleaners using vacuum cleaners or scrubbing machines

August 13: Station staff to leave all gates open at all times

August 15: Train crew to only operate trains that meet maintenance center minimum standards

August 17: Strike in T2 Inner West and Leppington line and some regional lines, 10am – 4pm

August 23: Strike on unidentified line, 10am – 4pm

August 25: Strike on unidentified line, 10am – 4pm

August 31: Ban on operating foreign-made trains

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Business

Warning Australians could miss out on Christmas holiday flights, accommodation

If you thought the chaos at airports over the July school holidays was enough to send you mad, experts say a whole lot more pain is coming – and not just when it comes to flying.

With Christmas holidays creeping up and the busiest holiday period just around the corner, Aussies hoping for a breezy summer escape are being warned to book now – or face being left out in the cold.

Accommodation platform Stayz revealed one-in-five Aussies have already booked their end of year holiday, with newly released data predicting a possible sold out summer in top holiday home destinations over the Christmas break.

“Booking for year-end Christmas holidays in July is now the norm” says Simone Scoppa, travel expert at Stayz.

“Prior to the pandemic, we knew that travelers mostly booked Christmas holidays in the month of September. But, the last two years have seen this peak period move to July as travelers get in early to secure their holiday home.”

According to the research, families heading into the silly season are increasingly searching for whole holiday homes with pools, in a waterfront or beachside location, and for the accommodation offering to be pet friendly.

Ms Scoppa said heading into July and August, the most popular destinations that have seen a spike in summer bookings include the Fraser Coast in QLD, the South West region of WA, the Barossa wine region in South Australia and smaller coastal towns along the Great Ocean Road in Victoria.

Airbnb, who recently launched the ‘Categories’ section for unique-style homes, predict this summer will have an increased interest from the international market now that border restrictions are over.

“While traditional holiday destinations continue to be popular, last year we saw guests seeking stays in those lesser-known locations that might be slightly further afield,” Susan Wheeldon, Airbnb’s Country Manager for Australia and New Zealand, told news.com.au.

“This summer, Aussies won’t be the only ones snapping up fun and unique homes on Airbnb, with international travelers also looking to experience Down Under – from our world-famous coastal cities and towns, to breathtaking rural landscapes.”

Ms Wheeldon tips locations like Rye, Apollo Bay and Bright to be popular once again this summer, along with South West Rocks and Nelson Bay in NSW.

With airports and airlines across the country – but particularly along the east coast – battling staff shortages, flight cancellations and delays coupled with the post-Covid travel boom, experts warn travelers could be in for long wait times over the summer holidays for both domestic and international travel.

On Monday alone, 21 flights were canceled in Sydney across the Qantas, Virgin Australia, Jetstar and Rex networks. Virgin dumped 10 flights, Qantas nixed eight, with two pulled from Jetstar and one from Rex.

Melbourne Airport faced similar struggles, with 20 flights scrapped as of 8.30am.

This included seven flights from Qantas, five from Emirates and Virgin Australia, two from American Airlines and one from British Airways.

The flights canceled at both airports were between 6.30am and 7pm on Monday.

With airlines struggling to keep up with demand amid staff shortages, Qantas announced they would be reducing flights in July and August.

Domestic and International CEO Andrew David apologized to customers as a result of the ongoing chaos being faced at airports across the country.

“We are the national carrier, people have high expectations of us, we have high expectations of ourselves and clearly over the last few months we have not been delivering what we did pre-Covid,” he said.

“We have reduced some of our flying this month and we’re planning to do the same next month, recognizing the operation pressures we have.”

It is understood the airline will be rostering on extra staff for the Christmas period, and any large widebody aircraft will be deployed to assist with domestic flights if need be.

In 2022 alone, Aussies have faced a string of rising cost of living pressures and accommodation reservations have been no exemption.

It hasn’t exactly been cheap to holiday domestically for many years, but staggering figures show that it has gone from bad to worse in the past 13 months.

Data from trivago released in June – recorded hotel price shifts from more than 400 booking sites for over 2 million hotels around the world in its Hotel Price Index. The survey uncovered an astronomical increase in the price of an Aussie getaway.

It shows the average price of a hotel in Sydney has arisen almost 25 per cent over the past year while hotel rooms in Melbourne have seen a 24 per cent spike in the same period.

This means the average cost of a hotel room in Sydney is now above $240 per night, up from $206 a night a year ago. For Melbourne, the average cost is now $239, up from $200 in August last year.

The CEO of Tourism Accommodation Australia, Michael Johnson said the hike in prices came down to staff shortages still plaguing the industry, with many hotels forced to operate at 70 to 80 per cent capacity which was impacting revenue.

“I know hotels that are still looking for 30 to 40 staff, instead of running two restaurants they are only running one,” he said.

“They’re not taking conference bookings, because they just don’t have the staff to manage those bookings.”

But despite the angst and frustration following travelers to airports both domestically and internationally, Australians have not been deterred from traveling and there’s no sign of it waning off in the future, according to Finder’s Consumer Sentiment Tracker.

More than one-in-two (57 per cent) of Aussies are planning a getaway in the next 12 months, including 32 per cent who plan to travel within Australia, 12 per cent who plan to travel internationally, and 13 per cent who plan to travel both domestically and overseas.

This is up from 49 per cent last December.

According to Finder’s Covid Comfort Indicator, Aussies rank their level of comfort with overseas travel at 4.3 out of 10, up from 2.7 in January. They feel slightly more at ease with domestic travel, ranking it 6.1 out of 10.

“The travel industry is finally seeing some normalcy for the first time in over two years. People aren’t as concerned about prices, they just want to travel again,” said Angus Kidman, travel expert at Finder.

“The key to making the most of any travel sale is to be flexible with dates and open-minded about destinations. Don’t forget to book your travel insurance as soon as you’ve locked in your trip.”

Ms Scoppa agreed, saying with many Australians missing out on travel plans due to Covid-19 interrupting plans in 2021 – the advice was to be organized and book now.

“The advice is simple, we recommend that you book now for your Christmas holidays, rather than leaving it to the last minute, where there may be limited choice,” Ms Scoppa said.

“The Mackay and Central Coast NSW regions are typically favorite summer destinations, that in years past have been close to a sell out, so it is good news for travelers looking ahead to book for Christmas that availability is still looking good for these destinations.”

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Business

Sneakerboy collapse: Company owes $17.2 million to creditors, customers

Several employees of a collapsed footwear company suspected the retailer was on its last legs for some time as they were accosted by angry creditors and customers on a daily basis, endured pay runs that were weeks late and never received their final entitlements.

Controversial luxury shoe retailer Sneakerboy went into voluntary administration in early July but two former staff members told news.com.au this was not surprising.

Five companies were included in the administration notice, Sneakerboy Pty Ltd and two related companies under the Sneakerboy name, and Luxury Retail Treasury Pty Ltd and Luxury Retail Group Pty Ltd (Sneakerboy’s parent company).

ASIC documents seen by news.com.au show the embattled company and its related companies owe $17.2 million to more than 100 creditors, including $200,000 to Nike.

A whopping $500,000 is also owed to 120 past and current staff members through unpaid wages and entitlements.

Elliot* worked for Sneakerboy since 2017 and is owed $15,000 from 220 hours of annual leave and roughly 12 months of superannuation that he never received after quitting in January this year.

“Since 2018 there were a few warning signs (at Sneakerboy), pay was occasionally a tiny bit late, like a day late,” he recalled to news.com.au.

“Then over the years it started to get out of control, in the last year it would be one to two weeks late. It was insane.”

The Melbourne worker, 34, was struggling to pay rent and groceries from the late payments and now works elsewhere, adding: “You get paid on time (at this new place), it’s crazy, it feels like such a treat.”

Elliot said from the beginning of his stint at the company he had doubts about the way Sneakerboy made money

“I felt like it wasn’t a sustainable business model, it was predicated on taking money from customers and using that as a loan to buy the shoes which is insane,” he said.

Customers would fork out cash for a pair of shoes, which was usually thousands of dollars as Sneakerboy sells sneakers by brands like Balenciaga and Canada Goose for well north of $1000. This money would then be used to actually buy the shoes — but the products would usually arrive weeks or months later as it was a pre-purchase order.

Wait times for sneakers usually blew out to weeks or months, causing angry customers to ring stores multiple times a day requesting for refunds.

Elliot said his store got “a lot of refund calls.”

“You would try to delay it as long as possible,” he added.

Things reached a head when one customer spent between $40,000 to $50,000 on sneakers — with plans to sell it on at a higher price at her home country of China. However, the shoes didn’t arrive for months.

“She put her own lock in front of the store, she put a bike lock on the front door,” Elliot said with a laugh.

“They had to get a locksmith. Some people were mad about it, but she spent tens of thousands of dollars and had n’t received her product from her so it was fair enough”.

It’s understood from creditors there are in excess of 1000 customers who prepaid for products which may now never arrive.

News.com.au has contacted Sneakerboy and its two co-owners for comment.

Do you know more or have a similar story? Continue the conversation | [email protected]

Struggling to pay rent

There were times when Elliot couldn’t afford rent because his pay arrived so late and he had to sell some of his own stuff.

“You’d have weeks where it’s like ‘cool, gotta sell a bunch of my own sneakers to pay rent’, it’s pretty cooked,” he said.

Although it looked like superannuation was being deposited into his account according to his pay slip, he knew this wasn’t the case.

“We’d all known for a couple of years our super wasn’t being paid properly, when you got the pay slips it said you were getting super but obviously they weren’t,” he added.

The Fair Work Ombudsman confirmed to news.com.au that it was investigating Sneakerboy over concerns from workers regarding their wages and entitlements.

A spokesperson told news.com.au the government department “has ongoing investigations in relation to Sneakerboy”.

“As these matters are ongoing, it is not appropriate for us to comment further at this time.”

Elliot said he could “tell Sneakerboy was going badly” because it was doing 40 per cent off sales even when they didn’t have stock available.

“It was fully desperate,” he said. “They were struggling for cash flow all the time.”

‘Blocked the exit’

Adam* worked at Sneakerboy’s Sydney store for four years and he claims the run-ins with angry customers and creditors made him develop depression.

“The constant pressure from management to keep selling on my day off and angry creditors have affected me mentally,” he told news.com.au.

“I had to visit a psychologist and psychiatrist to combat my depression.”

The 26-year-old resigned three months before Sneakerboy collapsed and said his mental health has improved since then as he has “moved on to better things”.

He alleges one of the worst interactions he had was with the landlord of his store who had not been paid rent for months.

“They were shouting at me and acting aggressively,” he said. “They blocked the exits, spoke very rudely and kicked me and other staff members out of the shop.”

He also said they got angry calls from contractors, including third party cleaning companies and delivery partners over unpaid bills.

“Customers were the most frequent and the worst,” Adam continued.

“They would abuse the staff members by shouting, swearing, acting aggressively, throwing fits, and threatening the staff member.

“Imagine you are getting this at least seven to nine times a day through phone calls or coming to the store.”

He added: “From my observation, every time Sneakerboy desperately needed money, they always start massive sales by offering high discounts for branded products.

“If you recall, last year, they did four or five massive warehouse sales, which is unusual for a business.”

Stephen Dixon from insolvency firm Hamilton Murphy Advisory was appointed as administrator at the beginning of July.

There are 36 potential buyers circling to try to acquire Sneakerboy, according to Mr Dixon.

“This interest has come from a range of international and Australian parties across a broad industry spectrum,” a statement from the company read.

“We appreciate and understand the concerns that all stakeholders to the Sneakerboy Group have, especially employees and customers,” Mr Dixon said.

“We continue to urgently work towards a sale of the business, as we believe that this will be the best outcome for creditors. Employee obligations are a critical part of the negotiations we are having with potential buyers.”

*Names withheld over privacy concerns

[email protected]

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Sports

Manly Sea Eagles Pride jersey, Manly seven, player rift, Sea Eagles vs Roosters, finals hopes

A member of the 17 Manly players who did support the Pride jersey against the Roosters has anonymously blasted the seven players who boycotted the game and put the team’s final hopes in danger.

WWOS’ The Mole reported the Manly player, who asked not to be identified, painted an ugly picture of a team still very divided over the jersey saga that engulfed the club.

“They (the seven) are still saying they weren’t consulted about the pride jersey and it went against the religious a cultural beliefs,” the player told WWOS.

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“We weren’t consulted when a betting sponsor was placed on our jersey – the guys wear that every week… I’m not sure what their god would say about that.

“No one asked us when our oval was renamed after a brewery (4 Pines Park) – I don’t think their god would have been crazy about that either.

“And I can tell you very few young blokes in our club live by the 10 commandments – nor most young blokes in Australia for that matter.

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The Manly Pride Jersey.Source: Getty Images

“Yet these guys take a stance over a good move by the club to make the gay community feel inclusive in our game.”

The player also believes the fact that Manly’s loss to the Roosters could cost them the final spot in the top eight, will make it very hard for the rift in the squad to be healed.

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Manly Sea Eagles press conference | 08:29

“They could have said they didn’t support the initiative but to refuse to play with their mates, it doesn’t sit well, and there is something of a rift in the group as a result,” the player said.

“If those two lost points – and we are confident we would have won (against the Roosters) – cost us a place in the finals, it will take a long time for us to get over it.”

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Sports

AFL: Star Collingwood midfielder Taylor Adams to miss Magpies’ top-four push

Collingwood midfield star Taylor Adams will resume running this Friday having “had a sook” over the groin injury which he’s adamant won’t keep him out of this year’s finals.

Adams was subbed out of the Magpies’ six-point win over Port Adelaide at half-time last Saturday and subsequent scans confirmed he suffered a groin strain.

The 28-year-old said on Tuesday he was extremely disappointed when the initial prognosis was delivered with the Magpies on a 10-game winning streak and a chance to finish in the top four under first-year coach Craig McRae.

But he quickly focused on the “silver lining” which was the chance to return in time for the first final, aided by the pre-finals bye which should give him enough time to be ready to play.

“I’ve got all the sooking out of my system. It could be better but it could be far worse,” Adams told RSN.

“I’m seeing the silver lining. I will start running again on Friday and that will give me a really good lead in to make sure that I come back fit and strong and able to sustain a full game.

“You have to shift your mindset from a situation that’s not ideal to turning it into something which is really positive. I’ve been in this situation before .. you can either sook about it for four or five days or you can get over it and put a plan in place and get back to work.

“I’m in that headspace at the moment and I’m confident if I put the work in I’ll be right. I’ve got a plan in place now and I’ll get to work and get ready to come back.”

Adams had until now played every game this season bar two, missing the round 4 defeat to West Coast while in the AFL’s Covid protocols then sitting out the narrow round 18 win over Adelaide because of a concussion.

He is first at the club for contested possessions this season, second in tackles and inside 50s, third in groundball-gets and sixth in disposals, so he is a significant loss for Craig McRae’s team at a crucial juncture.

The Magpies have won 10 matches in a row, including seven by single-digit margins, to move into third place on the ladder with reigning premier Melbourne, in-form Sydney and Carlton to come.

Only eighth-placed St Kilda, which has three fewer victories, has a worse percentage than Collingwood’s 106.2, so it will likely need to win at least twice in the final three rounds to maintain a top-four spot.

There are reinforcements on the way, with Brodie Grundy (knee) successfully negotiating his VFL comeback on Saturday, while McRae said after the Power victory that he expected Brody Mihocek (hip) to be available.

The coach stopped short of guaranteeing Grundy’s return but he played almost a full match while amassing 11 disposals, 21 hit-outs and eight tackles.

Mason Cox will be the player to make way if Grundy is recalled, unless Mihocek fails to prove his fitness.

Defender Jeremy Howe (corked buttock) sat out most of the last quarter at the weekend but should be fine for Friday night’s clash with his old side the Demons.

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