Myles Stephenson revealed a hidden gambling addiction during his late teens had left him embarrassed to speak out and in debt to his friends. In 2017, Myles, 32, found fame on The X Factor as a member of the hit group Rak-Su. The popular boy band formed in Watford consists of vocalists Myles, Ashley Fongho,…
The U.S. Department of Education announced today that it will provide $37 million in student debt cancellation for some 1,200 former students who contend they were scammed by the University of Phoenix, which has long been the largest for-profit college and has received tens of billions in taxpayer funding. The University of Phoenix brazenly deceived…
Societal CDMO, Inc., a contract development and manufacturing organization (CDMO), is implementing a strategic restructuring plan to streamline and optimize operations. Societal has reduced its workforce by 26 positions (9%) across all the business, effective September 20, 2023, and has eliminated nine open positions. These moves are expected to result in annualized savings of approximately…
Leaders of 20 U.S. cities and counties, representing more than 1.2 million borrowers with nearly $50 billion in student debt, wrote to President Joe Biden on Thursday demanding swift action on long-promised and long-delayed relief. Biden’s first plan to cancel up to $20,000 per borrower was struck down by the U.S. Supreme Court in June.…
In a challenging economic environment, like the one many businesses currently find themselves in, its an unfortunate truth that the number of corporate insolvencies spikes. Scottish Government figures show that there were 1,132 corporate insolvencies of all types during 2022/23. This was up 32.6% for the same reporting period the year before, and a rise…
Blockheating from Heerlen has been declared bankrupt. The company was active in placing mobile data centers next to greenhouses. Blockheating supplied growers with hot water at 60 degrees Celsius, including a data center next to a tomato greenhouse in northern Limburg. On the IT side, however, the startup encountered challenges. As is often the case…
The restructuring agreement announced by online car dealer Cazoo this week to deleverage its capital structure and further improve its financial flexibility won’t yet smooth its investors’ journey, and stakeholders should “buckle up” according to one expert. It was revealed on Wednesday that the automotive e-commerce firm Cazoo and its bondholders agreed a debt-for-equity swap, replacing nearly $630m…
In 1982, a Yale writing teacher named David Milch wrote a script for Hill Street Blues, a police procedural that Steven Bochco had cocreated the previous year. The script sold, and Milch joined the staff, where he soon became executive producer and began a celebrated career as a creator, writer and producer of TV dramas.…
Dutch electronics retailer BCC was declared bankrupt by an Amsterdam court on Friday, a day after the chain reportedly filed for bankruptcy. Many of the companys 1,100 employees are expected to lose their jobs, but could return to work if some of BBCs business units are acquired by other companies. The company is owned by…
Reality television personalities Kim Zolciak, 45, and her husband Kroy Biermann, 38, are embroiled in a bitter and very public divorce proceeding that has revealed their worrying financial state. Through legal documents made public, Biermann points a finger at his wife as the primary catalyst for their financial predicament. For all his eight seasons as…