West Australian bakery Mias has been placed into voluntary administration. The family-owned bakery, which has been trading since 1950, employs about 150 staff. Mias chief executive Conrad Mias said the low bread price was one of a number of factors leading to the company’s financial problems. He said the introduction of Aldi into the…
Fianna Fáil has said Government fears that its new mortgage arrears bill is not constitutional are ill-founded and a convenient excuse to block the legislation. The partys finance spokesman, Michael McGrath, who is bringing the bill, is seeking to remove the veto banks have on those seeking to stay in their homes. He says the…
Italian banks must improve the quality of bad loan data and use them to understand when to raise provisions on debts which are yet to be declared insolvent, the central bank governor said on Wednesday. A harsh recession which ended in 2014 saddled Italian banks with impaired debts that are still running at around 15…
The Reserve Bank of India (RBI) on Wednesday told the Gujarat High Court that Essar Steels claim of nearly completing its restructuring and being unaware of insolvency proceedings was false. Darius Khambata, RBIs counsel, said the minutes of the meeting between Essar Steel and its lenders revealed that the company was far from…
SAN PABLO Get your patient records from Doctors hospital before they are destroyed thats the message that went out Tuesday from Contra Costa County Supervisor John Gioias office to anyone ever treated at the former Brookside Hospital, which became Doctors Medical Center before it was declared insolvent and closed its doors to patients in April…
Insolvency is often a direct result of financial instability, poor cash-flow and mounting debts. Although cash flow is a principal factor for evaluating a companys insolvency, there are many other elements which can contribute to your poor financial condition. Business insolvency is certainly the last term you would want to hear. This happens when…
Global security group Securitas has revealed that its chief executive was declared bankrupt this week after his identity was hacked. In a particularly embarrassing disclosure, the Swedish company told the local stock exchange that its chief executive Alf Göransson was robbed of his personal identification when a person made a loan application in his name.…
The 20-time English champions have made some amazing signings over the years, but they have not been without their bloopers in the market either Some of the signings made by Manchester United over the course of the last 30 years have changed the football world as we know it. But for every Cantona there is…
MILAN, July 12 (Reuters) – Italian banks must improve the quality of bad loan data and use them to understand when to raise provisions on debts which are yet to be declared insolvent, the central bank governor said on Wednesday. A harsh recession which ended in 2014 saddled Italian banks with impaired debts that are…
The man running Swedens biggest security firm was declared bankrupt this week after his identity was hacked. Though the sub-optimal branding implications were hard to miss, Securitas AB hopes to have put the whole awkward incident behind it by the end of the day. The most important business stories of the day. Get Bloomberg’s daily…