June 2nd, 2016 Holly Birkett Dry Cargo, Europe, Finance and Insurance 0 comments Klaipeda County Court decided to declare the company declared Lithuanian Shipping Company bankrupt on May 30 and the company has gone into liquidation. The companys creditors will meet with its bankruptcy administrator in Vilnius on June 10 to discuss the liquidation process, claims and…
Salisbury BHS to close as company goes into liquidation SALISBURY will lose one of its largest retailers as BHS goes into liquidation. The department store chain will close, resulting in the loss of up to 11,000 jobs nationwide, after administrators failed to find a buyer for the company. The announcement came at just after 2pm…
Cambridge UK industrial technologies business Johnson Matthey is predicting that performance for 2016-17 will be ahead of last year as a result of a major restructuring that has clipped costs by £34 million. Its divisional overhaul is already paying dividends, according to chief executive Robert MacLeod. He said the performance in challenging markets in the…
BHS, the 88-year-old department store chain which collapsed into administration in April, is now facing liquidatation at the potential cost of 11,000 jobs after the administrators said they were unable to locate a buyer. The administrators, Duff & Phelps, had been widely expected to name a new BHS owner today, with a consortium fronted by the UK retail…
BHS to be wound down as rescue attempt fails 2 June 2016 From the section Business Image copyright Getty Images Department store BHS is to go into liquidation with the loss of up to 11,000 jobs after efforts to find a buyer failed. The decision followed a lengthy bidding process aimed at saving BHS, which…
Munich Reinsurance Co. Munich Reinsurance Co.’s ailing primary insurance unit, ERGO Insurance Group, said Wednesday that it plans to lay off 1,800 employees as part of a $1.1 billion restructuring plan. The plan, which is scheduled to be completed by 2020, also includes exiting 18 locations in Germany and bulking up its digital capabilities, Duesseldorf,…
NRL CEO Todd Greenberg says players will be banned for life if match fixing allegations are proven correct. COLOURFUL racing identity Eddie Hayson has had a long and chequered history with betting agencies and NRL players. Hayson, the former owner of brothel Stiletto before being declared insolvent with $52 million in debts, is one of…
Gourmet food retailer Jones the Grocer has collapsed into voluntary administration for the second time. PPB Advisory were there afternoon appointed as administrators to JTGS, which is the Australian operator of the four remaining Jones the Grocer and Becasse stores in Australia. The sole shareholder of JTGS is L Capital Asia, the private equity arm…
Wolseley announced in March that it would be closing 15 branches and cutting a couple of hundred jobs in the UK, and now plans to step up its restructuring plan. In its outlook, it said: We have committed to further restructuring in the UK and Europe, bringing the total expected costs for the full year…
Citizens Advice Causeway has launched a new Debt Advice service across Northern Ireland. The service is aimed at individuals who need help with their debt problems. Statistics show that the percentage of over-indebted individuals in the Causeway Coast and Glens Borough Council area sits at 20.5 percent, thats higher than the UK average of 16.1…