British fashion chain Topshop is planning to close all 11 of its U.S. stores after its parent company filed for bankruptcy protection. Arcadia Group, the London-based owner of the chain, said it is facing poor market conditions in the retail sector. The company blamed online competition such as Amazon and discount-retailers like TJMaxx for weak…
Attempts to find a buyer for British Steel could be abandoned by midsummer despite reassurances to trade unions that the government would prop up the business indefinitely, according to Whitehall sources. More than 4,000 jobs are hanging in the balance after the company entered into insolvency on Wednesday, three years after private equity group Greybull…
The State Bank of India has dragged energy firm Bhatia Coke and Energy Limited into insolvency process for non-payment of dues of about 125.9 crore to a consortium of banks. In September 2009, the company availed itself credit from State Bank of India and the erstwhile State Bank of Mysore. Further, it availed itself a…