The Warehouse is holding meetings at its stores on Monday morning after consultation about proposed job losses and store closures. More than 1080 jobs are expected to go as part of major restructure across the Warehouse Group that could result in at least six store closures. The Warehouse Group, which owns The Warehouse, Warehouse Stationery,…
G-Star has more than 2,000 employees worldwide Dutch clothing company G-Star Raw is restructuring in a move set to affect 10% of its global workforceas the impact of the Covid-19 pandemic continues to weigh on the business. The firm employs more than 2,000 people worldwide and says 150 of the affectedjobs arein the Netherlands where…
Thousands of sackings at Australian universities By Eric Ludlow17 July 2020 The Group of Eight, comprising Australias elite public universities, has projected that 6,700 jobs will be lost at its member universities in response to the COVID-19 crisis. The forecasts indicate that sackings will include 4,400 contract staff and 2,300 permanents and academics. The job…
Several countries have applied support schemes to help employers manage the financial challenges they are facing and encourage them to retain staff. Pinsent Masons’ Manfred Schmid and Lara-Christina Willems in Germany,Diane Nicol and Chris Evansin the UK, and Valrie Blandeau and Anne Cardon in France explain how the situation has differed for employers in their…
PLANO, Texas–(BUSINESS WIRE)–J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) today announced that it is aligning its workforce with its store optimization strategy and reduced store footprint. JCPenney has identified 152 store closures following a comprehensive evaluation of store performance and strategic fit for the Company and is having ongoing productive negotiations with landlords. Todays announcement…
NQ Minerals Plc NQ Minerals USD 41 million Debt Restructuring with ING Bank London, United Kingdom – July 16th, 2020 – NQ Minerals Plc (AQSE:NQMI, OTCQB:NQMLF, OTCQB:NQMIY) (“NQ” or the “Company”) announces that ING Bank N.V. (“ING”), a leading global resources bank, has today committed to provide NQ with a USD 41 million banking refinancing…
Luckin Coffee has called in liquidators to oversee a corporate restructuring and negotiate with creditors to salvage its business, less than four months after shocking the market with a US$300 million accounting fraud. The start-up company named Alexander Lawson of Alvarez & Marsal Cayman Islands and Tiffany Wong Wing Sze of Alvarez & Marsal Asia…
Samantha Findley will take the role of director, special situations in Australia. She is reported to have more than 15 years experience as a workout banker, restructuring and insolvency professional and client adviser. In her new role, Ms Findley will be responsible for steering clients through restructuring programs and portfolio management. Tim Stewart, head of…
Elizabeth Vulaj, licensed Attorney in New York and New Jersey discusses the many recent Chapter 11 bankruptcy filings of large retail clothing stores and the recently updated Chapter 11 process for small businesses that is playing out amid the COVID-19 pandemic With each passing day that the coronavirus pandemic wears on, there are new statistics…
Doosan Infracore Co. Ltd., a Korean machinery manufacturer, has successfully issueddollar-denominatedbonds worth $300 million despite concerns that the company may be sold off as part of the corporate restructuring ledby parent company Doosan Group. The company was able to secure enough demand for the three-year maturity bonds backed by state-run Korea Development Bank (KDB). Doosan…