One of Chinas largest-ever debt restructurings is starting to take shape. China Evergrande Group was declared to be in default in late 2021, the highest-profile casualty of a broader crisis in the countrys property development industry. The government has stepped in to manage the overhaul, quelling fears of a disorderly collapse that could have jolted…
Farmers Insurance says it will lay off 11% of its workforce about 2,400 employees as part of a corporate restructuring aimed at increasing its efficiency and long-term profitability ByThe Associated Press August 28, 2023, 4:30 PM FILE – The logo for the Farmers Insurance Group is seen on the North Course during the first round…
Owner Terry Pegula has been named President of the Buffalo Sabres. He will continue to work closely with COO John Roth leading the business side of the organization and general manager Kevyn Adams leading the hockey side of the organization. In conjunction with these changes, Pegula Sports & Entertainment (PSE) will be separating resources between…
United Arab Emirates 28 August 2023 – Leading global professional services firm Alvarez & Marsal (A&M) today unveiled the Q2 2023 edition of its Middle East Turnaround and Restructuring Survey. The report indicates that Gulf CEOs and business leaders who participated in the survey are feeling lower levels of concern about the economic environment, while…
Initiates Voluntary Prepackaged Chapter 11 Proceedings with Overwhelming Support of Key Stakeholders, Including 85%+ of First and Second Lien Debtholders Continuing to Operate Normally, Serve Customers and Deliver High-Quality Therapies to Patients Vendors and Suppliers Expected to be Paid in Full in the Ordinary Course DUBLIN, Aug. 28, 2023 /PRNewswire/ — Mallinckrodt plc (NYSE American:…
Aug 28 (Reuters) – National Australia Bank (NAB.AX) is preparing to cut around 60 jobs of the 600-staff at its markets division and undertake a broad restructuring exercise across its seven business, the Australian Financial Review said on early on Monday citing sources. The country’s second-biggest bank would begin the layoffs as early as this…
Businesses from technology start-ups to large multinationals increasingly turn to outsourced CFO services for a range of expertise seldom found in one individual, says Grant Thornton national managing partner Michael Pittendrigh. He said access to a pool of experts in the case of Grant Thorntons CFO service, about 50 across Australia trumped someone working solo…
The tech layoffs are not over. Yesterday, T-Mobile notified employees they are laying off close to 5,000 employees, or just under 7% of the companys workforce, to streamline operations and allow for corporate structuring, reports GeekWire. The jobs are primarily corporate and back-office roles that are redundant or tied to systems or processes that will…
Card chain Clintons is set to close 38 shops in a bid to avoid insolvency, according to reports (Alamy/PA) Clintons Cards appears to be safe from collapse for at least the next 12 months, after an insolvency court approved a restructuring plan that allows the retailer to escape full payment of business rates and rent…
Card chain Clintons is set to close 38 shops in a bid to avoid insolvency, according to reports (Alamy/PA) Clintons Cards appears to be safe from collapse for at least the next 12 months, after an insolvency court approved a restructuring plan that allows the retailer to escape full payment of business rates and rent…