Embattled online retailer SurfStitch has reached agreement to sell its Surfdome e-commerce operations in Britain, bringing its global ambitions to an end. SurfStitch’s administrators John Park, Quentin Olde and Joseph Hansell of FTI Consulting have agreed to sell Surfdome to a British-based private equity backed sports and adventure retailer, Internet Fusion, for £7 million (…
TCL Corp plans to sell a 49 percent stake in its subsidiary TCL Communication Technology for HK$490 million ($62.8 million) as the Chinese electronics maker aims to restructure its stagnant smartphone business. The company will sell an 18 percent stake to Unisplendour Technology Venture Capital Ltd, 18 percent to Oriente Grande Investment Fund LP and…
Image copyright Getty Images BAE Systems is planning to cut almost 2,000 jobs in military, maritime and intelligence services, the firm says. A total of 750 posts will go at the Warton and Samlesbury plants in Lancashire where parts for the Eurofighter Typhoon are manufactured. BAE is facing an order gap for the Typhoon so…
Time Inc is in talks with digital media companies to publish print versions of their content, even as the US publisher cuts back its own magazines circulation. The owner of Time, People and Sports Illustrated is in the midst of a company-wide restructuring as it seeks to return to growth following its decision earlier this…
CHICAGO, Oct. 10, 2017 /PRNewswire/ — McDonald Hopkins LLC, a business advisory and advocacy law firm, has announced that David A. Agay has been named the new Managing Member of the Chicago office. Agay is an accomplished corporate restructuring attorney who previously served as the office’s assistant managing member. He succeeds Richard N. Kessler, who…
Leshi Internet Information & Technology Corp., the listed arm of embattled tech giant LeEco, extended its share-trading halt after a six-month suspension, citing uncertainties in a restructuring plan. Shenzhen-listed Leshi said in a filing Monday that trading of its stock would remain suspended after Oct. 17 because of significant and unprecedented issues related to the…
MILAN, Oct 10 (Reuters) – Italian bioplastics multinational Mossi Ghisolfi is considering selling its Italian business in the biofuels sector as part of a restructuring deal, a source close to the matter said. The company, Italys second-biggest chemicals business behind that of oil group Eni, has hired Mediobanca to run the process, the source said.…
BAE Systems is streamlining management and cutting almost 2,000 aerospace and maritime jobs in the UK as part of a sweeping restructuring to adapt to a dearth of fighter jet orders and rising competition. Unions and politicians called on the government to act to prevent job losses at the UKs largest defence contractor and one…
CHATSWORTH, Calif., Oct. 10, 2017 (GLOBE NEWSWIRE) — Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced today that it is further lowering its quarterly operating expense target from $5.5 million per quarter to $5.0 million per quarter after a restructuring of the companys engineering assets and other…
CHATSWORTH, Calif., Oct. 10, 2017 (GLOBE NEWSWIRE) — Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced today that it is further lowering its quarterly operating expense target from $5.5 million per quarter to $5.0 million per quarter after a restructuring of the companys engineering assets and other…