Australian fashion brand Metalicus has become the latest victim of the tough retail environment and has fallen into voluntary administration. In an email sent to customers on Wednesday evening, the brand announced it has entered into voluntary administration and will be launching a nationwide sales campaign to get rid of stock. The…
A–A+ The founder of Nashelle jewelery says her Bend-based company is on the verge of insolvency, and her Old Mill District store is behind on rent because of her business partners mismanagement and sham financial transactions. Nashelle is my lifes work and I stand to lose everything that I put into the…
Debt-laden IVRCL, which is undergoing insolvency process, said that its resolution professional (RP) has invited expression of interest (EoI) from potential resolution applicants. (Website) Debt-laden IVRCL, which is undergoing insolvency process, said that its resolution professional (RP) has invited expression of interest (EoI) from potential resolution applicants. The company is facing insolvency proceedings after it…
Against the report by a national daily (not LEADERSHIP) that solvency ratio of five, out of 12 Nigerian insurers companies have fallen below regulatory threshold, the National Insurance Commission (NAICOM) has described the report as false and misleading. According to the refuted report, the five insurers whose solvency ratio are below the threshold are Aiico Insurance…
Australian fashion brand Metalicus has entered voluntary administration and will today begin a major sale across all of its outlets. In an email to customers on Wednesday evening, the company acknowledged the difficult period for our staff and customers, as it explained plans to launch a sale event at all of its flagship stores, Myer…
WILMINGTON, Del., May 9 (Reuters) – The founder of corporate restructuring firm AlixPartners sued competitor McKinsey & Co on Wednesday, claiming the strategic consulting giant ran a criminal enterprise that concealed potential conflicts of interest from U.S. bankruptcy judges in order to land valuable advisory assignments. McKinsey and its affiliates committed bankruptcy fraud, mail fraud,…
Image credit: Shopify Burst Clif Bar & Company attributes its success to not selling out when the owners walked away from a $120 million buyout offer in 2000. Instead, they kept the company private and invented their five-bottom-line business model focused on sustaining the business, its brands, its people, the community and the planet. Now,…
May 9 (Reuters) – Greif Nigeria PLC: * IN CONSULTATION WITH LARGER GREIF SUB-SAHARA AFRICA AND EMEA MANAGEMENT TEAM HAVE APPROVED TOTAL BUSINESS RESTRUCTURING PLAN FOR LOCAL OPERATION * STRATEGIC CONSOLIDATION OF ALL VOLUMES AND PRODUCTION CAPACITY IN APAPA, LAGOS FACTORY SITE ONLY AND SUPPLY QUALITY PRODUCTS OUT OF FACTORY TO CUSTOMERS IN NIGERIA *…
A top restructuring and insolvency lawyer has traded a global firm for another in Singapore. Wither KhattarWong (WKW), the Singapore Alliance firm of Withers, has appointed Justin Yip as a partner in its dispute resolution team. Yip came from Morgan Lewis Stamford, the alliance firm of Morgan, Lewis & Bockius in the city-state. As Singapore…
Thousand of drivers were informed by text that they had no insurance after the company that covered them went bust. Alpha – which ran UK brands Cover My Cab and Protector – was declared insolvent in Denmark, meaning people’s cover ended on May 8. The company insured 700 taxi drivers and 10,000 private hire vehicles…