Jones Day has been called in to act as the lead law firm on the administration of The Body Shops UK business. A cross-practice team led by London restructuring partner David Harding is working with administrators FRP Advisory to rescue the business, which employs more than 2,000 people in the UK and has around…
Lehto Group Plc’s Unexpected Financial Shift: A Tale of Delayed Reports and Restructuring Advertisment In an unexpected turn of events, Lehto Group Plc, a prominent player in the Finnish construction industry, announced a significant delay in the release of their 2023 financial statement bulletin. The news, which broke on February 15, 2024, sent ripples through…
Wesfarmers has welcomed improving digital performance, with its OnePass membership program growing and losses from its troubled Catch operating shrinking. Wesfarmers OneDigital operation home to its OnePass digital membership business contributed strongly across the companys retail businesses, according to managing director Rob Scott. Scott told the company’s half-year results briefing that OnePass had undergone significant…
Reuters. Trinseo (NYSE: NYSE:), a global materials company, discussed its fourth-quarter earnings, outlining several strategic actions taken to mitigate the challenges of a tough year and setting the stage for a potential rebound in 2024. The company announced restructuring efforts, including the closure of a facility in the Netherlands and the consolidation of its European…
Amid declining sales, apparel retailer Express has hired restructuring adviser M3 and law firm Kirkland & Ellis to help restructure nearly $280 million of debt, according to the Wall Street Journal, which cited people with knowledge of the matter. If the company is unable to successfully restructure its debt, a bankruptcy filing could be imminent. Express…
Joining the latest wave of job cuts, the USA-based communication tech firm Cisco is planning to reduce its employee count to focus on growth areas. According to Reuters, the company is preparing for a business restructuring that will involve terminating thousands of employees. Cisco has not yet disclosed the exact number of employees who will…
Barclays BCS inconsistent top-line performance is a major near-term headwind amid a challenging economic scenario. However, the banks restructuring initiatives continue to help manage operating expenses. Barclays has been witnessing volatility in both net interest income (NII) and net fee, commission and other income in the last few quarters, mainly on the back of a…
Please see full publication below for more information. BUSINESS RESTRUCTURING REVIEWVOL. 23 NO. 1 JANUARYFEBRUARY 20241IN THIS ISSUE1 The Year In Bankruptcy: 20232 Lawyer Spotlight: Dan T. Moss7 Second Circuit Adopts Transfer-by-Transfer Approach to Bankruptcy Codes Safe Harbor for Securities Contracts Payments12 Chapter 15 Filing as a Litigation Tactic Not Bad Faith Justifying Automatic Stay…
Provides Update on Q4 and FY 2024 Guidance SAN FRANCISCO, Feb. 6, 2024 /PRNewswire/ — DocuSign (Nasdaq: DOCU) today announced a restructuring plan (the “Restructuring Plan”) designed to strengthen and support the Company’s financial and operational efficiency while continuing to invest in product and related initiatives that will provide the foundation to realize its multi-year…
Anticipated cost savings of approximately $7 million on annualized run-rate basis SAN FRANCISCO, February 08, 2024–(BUSINESS WIRE)–Getaround (NYSE: GETR) (“Getaround” or “the Company”), the world’s first connected carsharing marketplace, today announced the Company will restructure its workforce and operations to reduce costs and align with the globalization of the Companys carsharing business, as it strives…