* Local govts to prepare lists of zombie firms within 3 mths * Firms must draw up restructuring plans within 6 months * Those meeting bankruptcy conditions to be eliminated immediately (Adds detail, background) SHANGHAI/BEIJING, Dec 4 (Reuters) – China will encourage zombie firms that still retain business value to restructure and woo strategic investors…
* Local govts to prepare lists of zombie firms within 3 mths * Firms must draw up restructuring plans within 6 months * Those meeting bankruptcy conditions to be eliminated immediately (Adds detail, background) SHANGHAI/BEIJING, Dec 4 (Reuters) – China will encourage zombie firms that still retain business value to restructure and woo strategic investors…
Arif Naqvi – File photo LONDON: Hopes of a solution have risen after the Abraaj group founder Arif Naqvi made last-ditch efforts to rescue the remaining business of his emerging markets empire and the Cayman Islands agreed to an extension for Abraajs joint provisional liquidators to devise a restructuring proposal over the next three months.…
PITTSBURGH–(BUSINESS WIRE)–Today Dollar Bank completed its reorganization from a mutual savings bank to a mutual holding company. From this point forward, Dollar Bank operates under a mutual holding company structure with Dollar Mutual Bancorp (a mutual entity without shareholders) owning 100% of the common stock of Dollar Bank, Federal Savings Bank. The reorganization will not…
Richard Hinson has resigned from his position as chief executive of Retail Food Group as part of a major restructuring foreshadowed at last weeks AGM. The Board thanked Hinson for his leadership since he started in the position just 8 months ago, and noted that RFG will renew its focus on serving franchise and non-franchise…
Image by Francisco Anzola https://www.flickr.com/photos/fran001/ Retailing under current regulations is like fighting with one arm tied behind your back, says Chemist Warehouse co-founder Jack Gance Speaking to the Weekend Australians Victorian Business Editor, Damon Kitney, Mr Gance has again denied recent rumours of an Initial Public Offer or float but outlined changes to its ownership…
History is repeating itself for the current owners of Laura Ashleys Australian business. After acquiring the fashion and home furniture company in 2016, when then-directorDaryl Chait appointed administrators,the current owners have once again placed the brand into voluntary administration after finding the capital required to revive the brand too burdensome, according to a statement from…
Image: Watpac. Latest News Contractor Watpac is negotiating the sale of its civil and mining business. The company today revealed that it is undertaking due diligence with a potential buyer of this part of the business. Watpac is working towards executing the legally binding documentation and completion of the transaction with the unnamed company. The…
Bayer AG (BAYRY – Free Report) announced a restructuring plan to streamline business and improve efficiency. The company plans to exit its Animal Health business, and management is currently assessing various options for this business. The decision to exit this business comes as part of the companys plan to focus on its core businesses of…
Bayer plans to shut down its Wuppertal, Germany, manufacturing site and concentrate production of hemophilia products in Berkeley, CA, under a restructuring that includes the elimination of 12,000 jobs worldwide.(PRNewsFoto/Bayer HealthCare) Bayer said today it will eliminate about 12,000 jobs worldwide by the end of 2021approximately 10% of its total workforcein a restructuring designed to…