Avaya has revealed its steps toward exiting Chapter 11 bankruptcy, including the appointment of a new chief executive, agreements with priority creditors and a debt reduction of more than US$3 billion. The unified communications vendor announced overnight that it had entered into a plan support agreement (PSA) with more than 50 percent of the holders of its…
Korea-based Samsung will implement restructuring for its China business and will shut down its seven sales points without employee layoffs. A representative from Samsung said that the company will close its seven sales points in China’s northern, eastern, southern, central, southwestern, northwestern, and northeastern regions, and further divide its China businesses into 22 bases. Samsung’s…
The Lotte Group began restructuring its business in China. The decision was made as the top management of the group judged that they can stand no longer as the China’s economic retaliation for the deployment of the Korea-US terminal high-altitude area defense (THAAD) system has been continuing for six months, and the decision to deploy…
The Lotte Group began restructuring its business in China. The decision was made as the top management of the group judged that they can stand no longer as the China’s economic retaliation for the deployment of the Korea-US terminal high-altitude area defense (THAAD) system has been continuing for six months, and the decision to deploy…
OMAHA The company that bought ConAgra Foods troubled private-label business 18 months ago is still struggling to operate it profitably. Illinois-based TreeHouse Foods, with offices in Omaha, on Thursday announced a plan to restructure its company by 2020. In phase one, its closing packaged-food factories in Minnesota and Indiana and cutting back production at a…
OMAHA The company that bought ConAgra Foods troubled private-label business 18 months ago is still struggling to operate it profitably. Illinois-based TreeHouse Foods, with offices in Omaha, on Thursday announced a plan to restructure its company by 2020. In phase one, its closing packaged-food factories in Minnesota and Indiana and cutting back production at a…
Herbalife Ltd. (NYSE: HLF) has been one of the most controversial stocks in the market in recent years, and the companys Q2 earnings report and conference call have presented investors with even more questions about the future of the company. Restructuring Taking Its Toll In June, Herbalife blamed Federal Trade Commission-mandated restructuring for its second-quarter…
After a first quarter filled with integration and restructuring charges, Enbridge‘s (NYSE: ENB) second-quarter earnings were surprisingly devoid of these expenses. This should have given us a clearer picture of the earnings power that Enbridge has now that it has completed the merger with Spectra Energy. That wasn’t necessarily the case, though, as the company…
KordaMentha is not a name usually associated with property development, but the insolvency specialists’ real estate arm has just completed an apartment project in Melbourne’s hip inner-city Northcote. The $16 million, four-storey building, Libertine Apartments, has 34 one and two-bedroom apartments and is the third development entirely overseen by subsidiary KM Develop. KordaMentha’s Libertine Apartment development…
A forensic audit of Videocon Industries’ accounts has been ordered by a consortium of lenders led by the State Bank of India (SBI) to ascertain if the company stumbled due to tough business conditions or financial mismanagement, the Economic Times reported on Friday while citing two sources. Professional services company KPMG will be…