Summary The coronavirus pandemic has hurt countless companies and forced them to rethink on their business strategies and restructuring plans. Amid shrinking demand, stalling of operational activities, and growing uncertainties, several companies took steps to reduce their cost base. At the same time, many divested their non-core asset or non-core business to focus on their…
Daily News View All News 20 July 2020 A UK recruitment director has been banned for six years for paying himself a 150,000 bonus prior to the recruitment firm entering liquidation. Roy Davies has been banned from acting as a director or directly or indirectly becoming involved, without the permission of the court, in the…
Air Serbia has commenced intensive communication with special purpose vehicles set-up by Etihad Airways in 2015 called Etihad Airways Partners I BV and Etihad Airways Partners II BV, over the restructuring of its multi million dollar debt. The carrier previously informed the funding vehicle that due to the financial strain caused by the coronavirus Covid-19…
UK High Street stalwart Marks and Spencer is to cut hundreds of jobs as coronavirus continues to hit trading. The retailer said 950 store management and head office jobs were at risk because it needed to accelerate its restructuring. A spokesperson said the move marks “an important step” in it becoming a “stronger, leaner” business.…
A local travel company specialising in educational tours has gone into liquidation, citing COVID-19 and issues with its insurance company as the final nails in the coffin. Antipodeans Abroad has been showing high schoolers, schoolies and university students the world for almost 30 years, but COVID-19s travel restrictions and cancellations have all but wiped the…
Summary The COVID-19 Pandemic has disrupted business activities leading to a significant business loss in many sectors primarily hospitality, tourism, airlines, and retail industry, pushing operators towards insolvency Government stimulus programs such as job-keeper program and a temporary moratorium on director liability for insolvent trading are set to become ineffective from September end to November,…
July 20, 2020 02:00 ET | Source: TECHNICOLOR multilang-release PRESS RELEASE The shareholders general meeting has approved the financial restructuring plan Implementation of the first tranche of the New Money facility for an amount of c. 240 million Paris (France), 20 July2020 Technicolor (EuronextParis: TCH; OTCQX: TCLRY) announces that, on the basis of information received,…