Sears Chairman Edward Lampert moved Friday to throw a lifeline to the bankrupt retailer even as the company announced plans to close 80 more stores, including two in Illinois. Lamperts hedge fund said in a statement that it pulled together financing to submit a $4.4 billion bid for the retailer on Friday, the deadline for…
JD.com, Chinas second-largest e-commerce player, is restructuring its e-commerce business in a bid to respond to the hugely competitive retail market and allay investor concerns. The changes come just days after the companys founder and CEO Richard Liu was cleared of felony rape charges in the US. US prosecutors stated there was insufficient evidence to…
Chinas second largest e-commerce player, JD.com, has announced a restructuring of its main shopping site and the creation of an office of the chief executive to better serve its customer-centricstrategy and allay investor concerns amid rapid changes in the countrys online shopping industry. The overhaul will divide JD Mall, the companys main revenue driver, into…
SINGAPORE (Reuters) – Noble Group (NOBG.SI), the once mighty commodity trader, on Thursday completed its drawn out $3.5 billion debt restructuring to emerge as a smaller, unlisted Asia-focused coal-trading business. FILE PHOTO: Photo of Noble Group logo at investor event from August 2015 The completed restructuring effectively closes the saga of Nobles collapse from Asias…
Ghana Association of Restructuring and Insolvency Advisors (GARIA), an Association of Professionals established to play a leadership role in corporate restructuring, has urged the government to expedite the process in passing the corporate insolvency bill into law. The Bill will ensure a significant impact in the business environment, provide a framework for restructuring viable businesses,…
Edcon Holdings Ltd said lenders extended waivers to give the debt-laden South African retailer time to implement a recapitalisation plan that was approved by its board. The restructuring and recapitalisation of Edcon has passed its next hurdle, chief executive officer Grant Pattison said in an emailed statement on Friday. This will allow sufficient time for…
Restructuring is so common in both the private and public sectors that many workers will experience one after the other, in an ongoing series of upheavals. Can this really be good for business? What impact is the constant threat of restructuring having on employee wellbeing and workplace culture? This year has seen restructuring and layoffs…
Paul Brough is to remain chairman of Noble Group after the crisis-hit commodity trader completed its emergency $3.5bn debt restructuring. The Hong Kong-based group had been set to name Ian Potter, a former Morgan Stanley commodities banker, as its new chairman but that was before authorities in Singapore launched a criminal investigation into false and…
Pictured: Elanco Animal Health, 2500 Innovation Way, Greenfield (Tom Russo | Daily Reporter)Indianapolis Business Journal GREENFIELD Newly public Elanco Animal Health said in a regulatory filing that it plans a restructuring of its international operations that will result in a $37 million charge in the fourth quarter, including $19 million in severance costs. The Greenfield-based…
IKEA US President Lars Petersson apologised in a video announcement sent to employees on Tuesday, following reports of the furniture retailers controversial restructuring. In the video, Petersson, along with Orlando store manager Monica Bogstad, outlined a plan to boost morale. Petersson said that management didnt see the balance between business and people the way we…