Dick Smith has entered voluntary administration, with disappointing December sales and a lack of short-term funding giving it no option but to appoint an administrator. McGrathNicol will act as administrator, while Ferrier Hodgson partners James Stewart, Jim Sarantinos and Ryan Eagle have been appointed as receivers by Dick Smiths lenders. Mr Stewart said it was…
Written by ARVIND P. DATAR , Rahul Unnikrishnan | Published:January 12, 2016 12:03 am Section 224 of the code creates an insolvency and bankruptcy fund that will receive grants from the Central government, deposits from any person or any other source. On December 21, 2015, the Insolvency and Bankruptcy Bill, 2015, was introduced as a…
Home » Format » News » ICMA pushes for faster progress on European Capital Markets Union ICMA pushes for faster progress on European Capital Markets Union 11 January, 2016 Written by Elliott Holley Print Email Richards: steps towards EU Capital Markets Union should be taken as soon as possible The European Unions initiative to create a Capital Markets Union in Europe…
Jan 11 Laura Ashley Holdings Plc : * Has been made aware that its license partner in Australia has been placed into voluntary administration * Is continuing its discussions with administrator regarding future of Australian operations * Laura Ashley has an exposure of circa. 1.2 million stg * There is no effect on rest of…
Jan 11 Laura Ashley Holdings Plc : * Has been made aware that its license partner in Australia has been placed into voluntary administration * Is continuing its discussions with administrator regarding future of Australian operations * Laura Ashley has an exposure of circa. 1.2 million stg * There is no effect on rest of…
Electronics retailer Dick Smith has gone into voluntary administration because of a continuing decline in sales. McGrath Nicol has been appointed to run the company. Analysts point to Dick Smith’s specialising in tech products as one reason for its predicament. Source: PM | Duration: 3min 44sec Transcript …
The company contracted to carry out the Sixfields stadium development has been placed into liquidation after administrators realised no assets to pay creditors. Northampton Borough Council are set to appoint Deloitte to oversee the liquidation of the firm which it says will give it direct access to information…
U.S. Steel is using the L word again liquidation. The American former parent to U.S. Steel Canada says it opposes a new process to sell the Canadian icon, now independent and under creditor protection, unless it also considers the liquidation value of the company. U.S. Steel Canada goes to court on Monday…
With Dick Smith entering receivership and home furnishings company Laura Ashley Australia appointing administrators this week, you might be forgiven for thinking that January is a particularly bad time for corporate collapses. Receivers were appointed to Dick Smith on Tuesday, with the electronic retailers 393 Australian and New Zealand stores no longer honouring outstanding gift…
by Patrick Hatch and Sally Rose Dick Smith has gone into voluntary administration, with receivers appointed to try to claw back debt owed to the company’s creditors. The electronics goods chain entered a share trading halt on Monday, pending an announcement about its “funding position and debt financing covenants”, and on Tuesday morning it announced that advisory firm McGrath Nicol…