MUMBAI: With Alok Industries heading into likely liquidation, about 12,000 permanent employees of the company are set to lose jobs in what could be the biggest labour casualty since the implementation of the bankruptcy code. These employees earned an average salary of Rs 1.45 lakh a year, show data compiled by Corporate Professionals that used…
Carson’s Fort Wayne location is shown. Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Carson’s Fort Wayne location is shown. MILWAUKEE (AP) – The Bon-Ton Stores, which operates 260 department stores in the U.S. including Carson’s, is expected to go out of business after two…
MUMBAI : Liberty House and Deccan Value have bid for bankrupt Castex Technologies, a subsidiary of Amtek Auto, with both offering about 20 per cent of overdues, said two senior bank officials who did not want to be identified. We have received two binding bids and both the offers are in the range of Rs…
NEW YORK (AP) The end is near for department store operator The Bon-Ton Stores. Two liquidation firms are the victors of an auction for the bankrupt company’s assets, after the retailer failed to find a bidder willing to continue operating the business. A bankruptcy court hearing is scheduled for Wednesday to approve the sale and…
MIAMI TOWNSHIP, Ohio (WDTN) – More than 100 people at the Dayton Mall’s Elder-Beerman Department store could be out of a job in a matter of months. Elder-Beerman’s parent company, Bon Ton, announced today: the company is going into liquidation. Loyal customers of the department store say the news comes as a shock. “I didn’t…
The future looks bleak for Bon-Ton Inc., the parent company of Herbergers department stores. A court-supervised auction of the bankrupt business started Monday. According to the Reuters news agency, sources familiar with the matter said that liquidation firms Great American Group and Tiger Capital Group won the auction with a $775.5 million bid. If the…
Telecom service provider Aircel’s committee of creditors (CoC) is reportedly considering an option to restart the firm’s mobile phone operations, in some circles, and the CoC is scouting for investors. According to The Economic Times, Aircel’s lenders, led by the State Bank of India (SBI), representatives from the firm’s management and an insolvency professional from Deloitte…
K S Oils Ltd has informed BSE that the Corporate Insolvency Resolution Process for the Company expired on April 16, 2018 and the Resolution Professional has not received the approval of the Committee of Creditors for Resolution Plans within the time period prescribed under the Insolvency and Bankruptcy Code, 2016. Pdf Link: Updates on Corporate…
Its official: Elder-Beermans parent company is headed for liquidation. Bon-Ton Stores Inc. officials announced a joint bidder, including a group of the bankrupt retail chains bondholders, won an auction for the companys asset. Great American Group and Tiger Capital Group and the holders of Bon-Tons second-lien secured notes will acquire the retailers inventory and certain other…
2:05 pm Europe Trade: European markets were slightly higher, as investors monitored a fresh batch of corporate earnings and economic data. France’s CAC was up 0.47 percent, Germany’s DAX 0.33 percent and Britain’s FTSE gained 0.82 percent. 1:55 pm Gold Snaps 3-session of Gain: Gold prices slipped after rising for three straight sessions as investors opted for…