Category Archives: Restructuring

Successful Closing of the Financial Restructuring of Europcar Mobility Group1: the Group Opens a New Chapter in Its History, With Renewed Ambitions – Business Wire

PARIS–(BUSINESS WIRE)–Regulatory News: Europcar Mobility Group2 (Paris:EUCAR) announces today the finalization of its balance sheet restructuring, thanks to the successful completion of the final steps of the accelerated financial safeguard plan approved by the Paris Commercial Court on February 3rd, 2021. This will enable the Group to accelerate the implementation of Connect, its strategic roadmap,…

JobKeeper ends in 30 days: are you prepared? – Mirage News

Jirsch Sutherland In just 30 days, JobKeeper comes to an end. And national, independent business turnaround and insolvency firm Jirsch Sutherland is urging struggling businesses to act now and seek help while theres still time. JobKeeper has been a godsend for many businesses and while many no longer need the support, there are still countless…

Penfolds owner Treasury Wines axes 60 jobs in China – The Australian Financial Review

Chief executive Tim Ford said on Friday that restructuring in China had followed the provisional tariffs imposed by the government in Beijing. The introduction of provisional measures imposed on Australian wines by the Chinese government as part of its investigations, which remain ongoing, have required TWE to adjust our operating model in China, he said.…

Akamai Restructuring Big On Security, Edge Tech & Cost – The Taiwan Times

Akamai Technologies Indias global content delivery network, cybersecurity, and cloud service company has announced a major restructuring plan. Under the plan announced, Akamai is realigning into two business groups Security and Edge Technology, effective March 1st, 2021. These two groups will be driven and supported by a single Global Sales unit. Overall, the Akamai restructuring…

Asda says 5,000 jobs at risk in new business plan – BBC News

image copyrightGetty Images Asda says it has begun consulting with workers over a major restructuring of the business which could put about 5,000 jobs at risk, including 3,000 non-store jobs. Proposed cuts would include in areas such as cash management, where there is less work as more people shop online. The company said it planned…

Ruby Tuesday Emerges from Voluntary Chapter 11 Restructuring | Business | valdostadailytimes.com – Valdosta Daily Times

MARYVILLE, Tenn.–(BUSINESS WIRE)–Feb 24, 2021– Ruby Tuesday today announces its successful emergence from bankruptcy. A Delaware bankruptcy judge confirmed the casual dining restaurant chains Chapter 11 plan of reorganization on February 17. The company had sought bankruptcy protection on October 7, 2020. The bankruptcy allowed Ruby Tuesday to shed liabilities, including leases from closed locations…

KPMG close to clinching £400m sale of restructuring arm to HIG – Sky News

KPMG has entered exclusive talks about a 400m sale of its UK restructuring business in a deal that could be spearheaded by one of the most prominent figures in the UK accountancy profession. Sky News has learnt that HIG Europe is in detailed negotiations to acquire the business, which will represent the most valuable disposal…

EPIC announces restructuring | Insurance Business – Insurance Business

EPIC Insurance Brokers and Consultants has announced a number of organizational and restructuring changes across the company. Tom ONeil has been named president of EPIC. In this role, he will work directly with EPIC CEO Steve Denton to grow the business across its entire platform. ONeil previously led the companys West and Northwest regions and…

Malaysia Aviation Group’s court approval paves way for $891mln capital injection – Reuters

By Reuters Staff 2 Min Read * Scheme received unanimous support of relevant lessors * Khazanah to pump 3.6 bln rgt to fund MAG until 2025 * Group restructuring expected to complete early March KUALA LUMPUR, Feb 22 (Reuters) – Malaysia Aviation Group obtained court approval in Britain on Monday for an agreement between the…

HSBC to expand restructuring with faster shift to Asia – Nikkei Asia

HONG KONG — HSBC Holdings is expected on Tuesday to unveil a renewed effort to push further into Asia and to relocate some top executives to Hong Kong as the bank accelerates its largest overhaul in decades to address years of underperformance. With the U.K.-based bank’s business recovering in the fourth quarter, CEO Noel Quinn…