Sir Philip Green is battling to rescue his Topshop empire from collapse and time is running out. The billionaires Arcadia group, which employs about 19,000 people, is desperate to secure a rescue restructure that will involve the closure of about 50 of the groups 570 British stores. If a deal cannot be agreed well before…
SETL Ltd, the now London-based institutional payment and settlement infrastructure provider using blockchain technology, today announced the completion of its corporate restructuring plan. At the beginning of March this year, the previous entity, SETL Development Ltd (in administration), announced that it had appointed Quantuma LLP as its administrators. Under the direction of its CEO, Philippe…
Blockchain and settlement payments technology specialist SETL has announced the completion of its corporate restructuring and has exited administration. The firm appointedadministrators from Quantuma in early March to restructure its business lines after SETL was unable to supply sufficient capital to sustain its investments in the ID2S (a regulated central securities depository) and IZNES (a…
Image credit: Natee K Jindakum / Shutterstock Proper cash flow management is a key strategy that every business owner must master for long-term financial success. Managing cash flow can be one of the biggest challenges business owners face. A recent study from Intuit found that 61% of small businesses around the world struggle with…
Socit Generale reported a 26 per cent fall in profits as the French bank pushes ahead with a far-reaching overhaul of its business. Net income for the first quarter was 631m, down from 850m in the same period one year previously, knocked slightly by costs associated with the disposal of a Slovenian subsidiary. The groups…
First Solar reported significantly lower than expected first quarter sales, due primarily to challenges in its EPC PV project business in the US and Japan that impacted sales by US$159 million. Image: First Solar Leading CdTe thin-film manufacturer and Solar Module Super League (SMSL) member, First Solar reported significantly lower than expected first quarter sales,…
Thompson Hine LLP is pleased to announce that John Bae has joined the firms New York office as a partner in its Business Restructuring, Creditors Rights & Bankruptcy practice. He joins the firm from Baker Botts. Bae is the second lawyer added to this practice group in recent months Thompson Hine welcomed David S. Forsh…
Debenhams is demanding reductions in business rates alongside cuts to rents as part of its attempt to reduce its store occupancy costs, according to documents seen by the Financial Times. Last week, the struggling department store group confirmed it would launch a company voluntary arrangement a type of insolvency proceeding to restructure its expensive and…
CJ Groups restaurant business unit CJ Foodville has sold its flagship coffeehouse chain A Twosome Place as part of the its business restructuring to Hong Kong-based private equity firm Anchor Equity Partners, the firm confirmed Wednesday. The sale involved 45 percent stake held by CJ Foodville in A Twosome Place for 202.5 billion won ($173.3…
US broadcast giant iHeartMedia has successfully completed its restructuring process, significantly reducing its debt from $16.1billion to $5.75bn. Alongside the completion of the restructuring, and in accordance with its Plan of Reorganization, iHeartMedia and Clear Channel Outdoor Holdings have now fully separated, creating two independent publicly-traded companies. Clear Channel Outdoor Holdings shares will continue to…