Like the airplanes that now rarely cross our skies, the governments various relief measures have enabled many businesses to maintain a holding pattern since March. Come September, when certain measures are slated to end, business owners will be forced to break this pattern and revive their companies to meet costs, pay down debts and navigate…
Walter Lomax, a graduate of Griffith Business School and Manager, Business Restructuring and Strategy at PwC, has been named Young Accountant of the Year (30 years or under) at the 2020 Australian Accounting Awards. Honoured to receive the award ahead of a pool of nine other finalists, which included a colleague from PwC, Walter said…
Image copyright Getty Images Sandwich chain Pret A Manger is to close 30 outlets and is expected to cut at least 1,000 jobs at other shops as part of a post-pandemic restructuring. The company said the impact of coronavirus on trading meant it had to make a “difficult decision”. Pret said it needed to reduce…
July 05, 2020 19:58 ET | Source: Euro Manganese Inc. NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES EMN raises C$3.85 Million (A$4.1 Million) with strong support from existing shareholders, directors and management Company initiates board restructuring to set stage for commercial development of the Chvaletice Project VANCOUVER,…
The Australian division of T.M. Lewin Australia has collapsed into administration, jeopardizing around 40 jobs in Melbourne, Sydney and Brisbane. EY has taken on the administration process, after private equity subsidiary Torque Brands purchased T.M. Lewins UK parent, and commenced a stringent restructuring operation. TM Lewin, is a British online menswear retailer. It was started…
News of a business restructuring at Motherson Sumi Systems Ltd drove down the shares of the auto components supplier by about 5.4% on Friday. The complex restructuring has two components. One, Motherson will de-merge its domestic wiring harness (DWH) division, which will be listed eventually. Two, promoter holding company, Samvardhana Motherson International Ltd (Samvardhana) will…
When contacted, an Uber spokesperson said, ‘Uber continues to provide a high level of service to all its riders in Mumbai’ TopicsUber|Uber bike taxi|Lockdown Ride hailing platform Uber has shut down its Mumbai office as part of its restructuring efforts, but it will continue to provide services in the city, according to sources. The company’s…
Indonesia is running out of time to rescue its businesses from the impact of the coronavirus pandemic, and banks should immediately ramp up promised working capital loan disbursement to bolster the economy, businesspeople have said. Indonesian Chamber of Commerce and Industry (Kadin) chairman Rosan Roeslani said the implementation of one of the governments stimulus programs…
July 03, 2020 08:00 ET | Source: Epiq NEW YORK, July 03, 2020 (GLOBE NEWSWIRE) — Epiq, a global leader in legal services, released the June 2020 bankruptcy filings statistics today from its AACER business. Notably, commercial Chapter 11 filings are up 43% over June of last year, with 609 new filings, up from 424…
Jul 02 2020, 10:15 PMJul 02 2020, 10:15 PMJuly 02 2020, 10:15 PMJuly 02 2020, 10:15 PM Auto components major Motherson Sumi Systems Ltd. on Thursday announced a group restructuring under which it will demerge its domestic wiring harness business into a new company that will eventually be listed. The reorganisation has been approved by…