Stirling-based window and door manufacturer Guardian Systems (Scotland) and sister company Guardian Soft Furnishings have gone into liquidation with the loss of 44 jobs. Guardian Systems, which employed 27 staff, is reported to have run into cashflow difficulties due to a fall in orders over the summer. Appointed liquidators from Campbell Dallas said Guardian Systems,…
Related Story: Bob Day re-elected to Senate after tight contest for SA spot South Australian Family First senator Bob Day has confirmed he is leaving the Senate as his building company goes into liquidation. Senator Day has confirmed his departure is related to his troubled building company, Home Australia. Senator Day…
Last year 1,962 SA companies went to the liquidation wall. The figure could have been lower if more companies in financial distress had opted for business rescue. “Business rescue provides a moratorium to shield a company in distress from creditors wanting to put it into liquidation,” says Haroon Laher, Norton Rose Fulbright SAs head of…
Two Queenstown lodges placed into receivership in February have sold, but they and their sole shareholding company have now been placed in liquidation. Evergreen Lodge, at Sunshine Bay, and Remarkables Mountain Lodge, on Kingston Rd, were sold by tender for a total of $3.87 million. However, the second receivers report says both property companies and…
Business owners in central west New South Wales say they are not sure whether they will recover millions of dollars owed by a mining company that has gone into receivership. The Mineral Hill mine, north of Condobolin in the Lachlan Shire, has been put into care and maintenance after the owner KBL Mining Limited…
Oct 14, 2016 7:01 AM [NEW YORK] Electronics maker HP Inc on Thursday said it expected to cut 3,000 to 4,000 jobs over the next three years as part of a restructuring plan adopted earlier this week. The plan should generate gross annual savings of US$200 to US$300 million beginning in 2020 but will also…
The pensions lifeboat that was BHSs biggest creditor when it collapsed into administration is demanding the companys imminent liquidation in a bid to accelerate investigations into former directors. Sky News has learnt that the Pension Protection Fund (PPF), which has taken on responsibility for paying retirement benefits to thousands of former BHS employees, has told…
By Tracy Rucinski and Jim Christie (Reuters) – Former telecommunications equipment company Nortel Networks Ltd reached an agreement with their various business units on Wednesday to divvy up the $7.3 billion raised from liquidating the failed company, paving the way for pensioners and creditors to get paid after a seven-year wait. Ontario-based Nortel stumbled from…
By Tracy Rucinski and Jim Christie Former telecommunications equipment company Nortel Networks Ltd [NRTLQN.UL] reached an agreement with their various business units on Wednesday to divvy up the $7.3 billion (5.98 billion pounds) raised from liquidating the failed company, paving the way for pensioners and creditors to get paid after a seven-year wait. Ontario-based Nortel…
MXG on the TSXOTC:MXGFF on the OTCBB Maxim Power is an independent power producer based in Canada but with it’s major operations in the Northeast United States, followed by France, with the Alberta power market it’s smallest. Maxim shareholders have suffered for a very long time, with promises of growth stymied by the company’s lack…