Sears, the 125-year-old icon, has 24 hours to survive. The employer of more than 68,000 filed for bankruptcy in October. Its last shot at survival is a $4.6 billion proposal put forward by its chairman, Eddie Lampert, to buy the company out of bankruptcy through his hedge fund, ESL Investments. ESL is the only party…
The Securities and Exchange Commission has settled charges against Crowe, two of its partners, and two additional partners at a now-defunct audit firm for significant audit failures connected to a payroll services firm that went bankrupt. According to the SEC, Crowes audit team identified pervasive fraud risks in its 2013 audit of Corporate Resource Services…
THE COMPANY behind the renovation of a historic Richmond hotel is set to be liquidated with debts of more than 230,000. Best Friend Limited, the trading name for The Fleece Hotel, is to be placed in a creditors voluntary liquidation. The papers reveal there are 71 creditors, including members of staff, suppliers, directors and others,…
Lenders to insolvent SBQ Steels have preferred to take the liquidation route for the entity, expressing reservations over UK-based Liberty Houses capability to take the process ahead, sources close to the development said. The resolution professional (RP) has filed an application under Section-33 of the Code of Liquidation, before the Chennai Bench of…
This article will take you 3 minute(s) to read Its no mystery that many startups and small businesses eventually fail. If there is life, there is death; similarly, for every billion-dollar unicorn company, there is a humongous number of startups that have gone onto the other side. More often than not, startups go bankrupt…
An analysis of Federal Reserve data projected that by the end of 2018, the total consumer debt in the US will reach $4 trillion. Americans spend at least 10% of their monthly income repaying debts like credit cards, student loans and car loans, and they basically owe 26% of their total income. These numbers are…
Amritsar/Bathinda/Patiala: The crop loan waiver of Rs 2 lakh may not have been enough to revive the fortunes of most farmers, but a section of them is now eyeing fresh loans to put their derailed financial condition back on track once the government waives their old debts. Our reputation in banks will automatically improve if…