Meccano menswear is the latest retailer to face trouble, being placed in voluntary administration this morning. The menswear retailer has appointed KordaMentha partners Grant Graham and Neale Jackson as administrators. Jackson said all Meccano stores would remain open over this period while it looked for a buyer. “Having just been appointed, we are seeking urgent…
WSE-listed fashion retailer Gino Rossi hopes that sale of the Simple brand will help the company curb its debt and obtain funds to boost working capital, companys CEO Tomasz Malicki said. Thanks to the sale, we will reduce debt and free the funds needed to supply the working capital necessary to increase sales and further…
Moneycontrol News The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against debt-ridden Winsome Diamonds and Jewellers, according to a report by the Hindu Business Line. The corporate insolvency process commenced on February 13, and creditors have been asked to submit their claims by February 27, the report said. The Debt Recovery Tribunal (DRT) estimates…
An expanding Christian debt counselling service aims to clear up financial problems within five years. The Dumfries CAP Debt Centre is urging victims not to feel there is no way out of the debt spiral as there is always hope. The partnership, between the Christians against Poverty charity and the River of Life Church in…
The Treasury committee has published the full unredacted report into Royal Bank of Scotlands disgraceful treatment of struggling small businesses that came to it for financial assistance in the wake of the banking crisis. The influential group of MPs, chaired by Nicky Morgan, released the report after a long-running stand-off with City watchdog the Financial…
As any budding start-up will tell you, the amount of information detailing the average lifespan for a new business is startling. A common statistic is that just 20 per cent of new businesses are able to progress and stay in business for five years and this is a pretty scary issue for those who…
London The Republic of the Congo is set to become the latest African country to start debt-relief talks with trading houses after borrowing $2bn from merchants, such as Trafigura and Glencore, but now find its debt levels unsustainable, sources familiar with the matter said. Trading houses regularly lend money to resource-rich clients in financial distress…
WASHINGTON, Feb. 20, 2018 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE:FCN) today announced the appointment of Keith McGregor as a Senior Managing Director in the Corporate Finance & Restructuring segment, continuing to deepen the firms global company-side restructuring capabilities. Mr. McGregor, who joins FTI Consulting from EY, will be based in New York. In his…
(Refiles to add lenders in final paragraph) * IMF pushing Congo to renegotiate debt * Loans primarily came from Trafigura, Glencore * Many African countries have borrowed from traders By Julia Payne and Dmitry Zhdannikov LONDON, Feb 20 (Reuters) – Congo Republic is set to become the latest African country to start debt relief talks…
* IMF pushing Congo to renegotiate debt * Loans primarily came from Trafigura, Glencore * Many African countries have borrowed from traders By Julia Payne and Dmitry Zhdannikov LONDON, Feb 20 (Reuters) – Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2 billion…