Sears Canada said Tuesday it plans to seek court approval to begin liquidation of all of its remaining stores and assets, a move that would see about 130 outlets close and put about 12,000 employees out of work. “Sears Canada, with the recommendation of its advisers and approval of the monitor, FTI Consulting Inc., is…
In 2014 Greybull Capital bought a 90 per cent share in the company from former owners the Swiss-Italian Mantegazza family, with a view to turning it round to make a profit. As reported in the Independent in 2016, Greybull injected £25 million into the airline in return for the 90 per cent share in expectation…
TNN | Oct 12, 2017, 04:00 IST Chennai:Yogendra Vasupal, cofounder of beleagured home stay startup Stayzilla, has filed an appeal with National Company Law Appellate Tribunal, after insolvency proceedings were initiated against it by the National Company Law Tribunal, Chennai bench, by advertising agency Jigsaw Solutions. Challenging the NCLT’s order, Stayzilla’s petition said, “It is…
The rate of change in the trucking industry looks to be increasing, and trucking operators need to be prepared for the brave new world of trucking we are likely to be living in, it needs to be future proofing trucking. Brendan Richards outlined his view of the future at the Trucking Australia conference in Darwin.…
FREMONT, Calif., Oct. 11, 2017 (GLOBE NEWSWIRE) — Sigma Designs, Inc.® (NASDAQ:SIGM), a leading provider of intelligent system-on-chip (SoC) solutions for Connected Smart TV Platforms and Internet of Things (IoT) Devices, today announced restructuring activities intended to refocus its operating expenses and accelerate the return to profitability. These actions, which will focus on streamlining the…
Sri Lankas external debt burden is well known. The country, which came out of a long civil war in 2009, is currently struggling to service an outstanding debt of about $46.6 billion. But more recently, the Central Bank has found a very high level of household debt in the war-affected communities of the north and…
NEW DELHI: The working group constituted by the Insolvency and Bankruptcy Board of India has laid out draft regulations for repayment plan for individuals and firms declaring insolvency, providing a framework for resolution of personal insolvency. According to the draft regulations, the plan should include among other things the duration of repayment, implementation schedule and…
KOLKATA: Nicco Corporation, a specialised cable maker and a defaulter of nearly Rs 300 crore of bank loans, is all set to face liquidation as lenders led by State Bank of India voted against the resolution plan prepared by the company, according to three people familiar with the development. Nicco was one of the first…
British boatbuilder and carbon fibre specialist Green Marine has ceased trading after going into voluntary liquidation last week (October 3), leading to the loss of 46 jobs. Speaking to the BBC, a spokesperson for the company explained that Green Marine had been hoping to secure an order to build the hull and superstructure of a…
ITALY, Milan On Wednesday evening, Giorgio Armanis niece and brand ambassador Roberta Armani is throwing a party in Chelsea with Gen-Z DJ and campaign star Martin Garrix to celebrate A|X Armani Exchange, the moderately priced collection that recently underwent a bit of a transformation. New Energy. Same Spirit, the invites tagline reads, indicating that while the…