Bodycote shares slid on Thursday after the heat treatment and thermal processing company announced another restructuring and sounded a downbeat note on the outlook for the civil aerospace market. The company, which already cut the workforce in its automotive and general industrial segment (AGI) earlier this year by around 1,000, said there will be a…
By Reuters Staff 1 Min Read (Reuters) – Bodycote Plc said on Thursday it would carry out another restructuring, similar to the one in the first half that included more than 900 job cuts, as it expects the civil aerospace market to remain weak for at least the next 18 months. The heat treatment and…
PARIS–(BUSINESS WIRE)–Regulatory News: Europcar Mobility Group (Paris:EUCAR): The Agreement in Principle has been entered into by the Company with a group of significant cross-holders2 in the 2024 Senior Notes, 2026 Senior Notes, EC Finance plcs Senior Secured Notes and holding interests in the RCF and the Credit Suisse Facility and has been approved at the…
By Reuters Staff 1 Min Read Nov 26 (Reuters) – Bodycote Plc said on Thursday it would carry out another restructuring, similar to the one in the first half that included more than 900 job cuts, as it expects the civil aerospace market to remain weak for at least the next 18 months. The heat…
Thousands of small- and medium-sized companies in India have missed loan payments and are staring at a prolonged period of distress owing to the pandemic while the larger ones have held their ground and, in some cases, thrived, loan recast data from top lenders showed. Micro, small and medium enterprises (MSMEs) make up the overwhelming…
Yingli Green Energy topped the charts of solar module manufacturers for shipments in 2013, but what followed was a downward trajectory, driven by rapid capacity expansions, low ASPs and a lack of profitability. Yingli Green Energy, the holding company once listed on the New York Stock Exchange (NYSE), has now been liquidated, unable to repay…
‘Phoenix activity’ is a broad term commonly recognised in the solvency world for its ability to help company controllers avoid the stress and pain of standing over a failed business. Phoenix activity, however, runs the full gauntlet of positive and negative implications, as it applies to illegal activity, a legal phoenix restructure and even the…
Yingli Green Energy topped the charts of solar module manufacturers for shipments in 2013, but what followed was a downward trajectory, driven by rapid capacity expansions, low ASPs and a lack of profitability. Yingli Green Energy, the holding company once listed on the New York Stock Exchange (NYSE), has now been liquidated, unable to repay…
PwC has expanded its Business Restructuring Services practice in Scotland with the appointment of Nick McLaren as a director. He has returned to PwC Scotland from the professional services firms Australian restructuring practice, where he advised a wide range of businesses across sectors including retail and real estate in both public and private sectors. A…
The agreement additionally includes $165 million in new equity investments from a fund managed by the private equity group of Guitar Centers controlling owner Ares Management Corporation (which acquired a majority stake in the company in 2014), new investor Brigade Capital Management, a fund managed by The Carlyle Group and other lenders. The company says…