Category Archives: Restructuring

Amtech restructuring solar business as Chinese cell producers delay expansion plans – PV-Tech

Specialist PV manufacturing equipment supplier Amtech Systems is restructuring its solar cell manufacturing equipment business with job losses after China-based customers have pushed-out capacity expansion plans after government cuts were made to downstream solar installation targets as deployments far exceeded goals.  Fokko Pentinga, Chief Executive Officer of Amtech said, In our solar business, recent changes…

House of Fraser calls in administrators as rescue talks fail – The Guardian

House of Fraser is appointing administrators, putting more than 17,000 jobs at risk, after attempts to agree a rescue deal failed. The department store chain said talks with its investors and creditors had not concluded in a solvent solution. The administration is due to be arranged at a court hearing early on Friday morning. The…

Foreign aid for diplomacy: PM to farmers – Bega District News

Prime Minister Malcolm Turnbull is standing by foreign aid spending amid outcry from drought-stricken farmers, politicians and local charities. One critic, Brian Egan from charity Aussie Helpers, says he’s asked every day why so much money heads overseas, while One Nation leader Pauline Hanson has called for aid to be redirected to rural areas. Mr…

A Great Vehicle Lurks in Hyundai’s Corporate Chop Shop – Bloomberg

Anjani Trivedi is a Bloomberg Opinion columnist covering industrial companies in Asia. She previously worked for the Wall Street Journal. Read more opinion LISTEN TO ARTICLE SHARE THIS ARTICLE Is the tide turning in the favor of activist shareholder Elliott Management Corp. in its drive to clean up the web of more than two dozen auto……

HELLA restructures aftermarket business – Automotive World (press release)

The lighting and electronics specialist HELLA is restructuring its aftermarket business. HELLA will thus align its aftermarket activities even more consequently along its own original equipment competencies especially in the areas of lighting and electronics while closely linking them to the companys great workshop equipment expertise. In this context, the successful repair solutions business will…

The spoils of being a partner at an investment bank – Financial Times

If you are star banker, the move in the last decade has been to hang out your own shingle. A document filed in the legal fight between boutique bank Perella Weinberg Partners (PWP) and a team of dismissed restructuring bankers shows us why. If you did not read the 2016 FT Big Read, heres a…

Samuels Jewelers Continues Normal Operations During Financial Restructuring Process – Markets Insider

AUSTIN, Texas, Aug. 7, 2018 /PRNewswire/ — Samuels Jewelers, Inc. affirmed today that the Company’s approximately 122 stores and its e-commerce site are open for business and are continuing to offer customers great service and a curated assortment of merchandise in fine jewelry. Samuels Jewelers, Inc. is implementing a court-supervised process in the United States…

Steinhoff gains 100 per cent creditor support – Inside Retail

Steinhoff International has secured 100 per cent of third-party creditor support after announcing its lock-up agreement (LUA) became effective as of July 20th. Initially, it seemed the furniture group were having issues gaining the necessary support, though that fear has now passed as the agreement is in full effect. The company is pleased to announce that…

Samuels Jewelers Continues Normal Operations During Financial Restructuring Process – PR Newswire (press release)

AUSTIN, Texas, Aug. 7, 2018 /PRNewswire/ — Samuels Jewelers, Inc. affirmed today that the Company’s approximately 122 stores and its e-commerce site are open for business and are continuing to offer customers great service and a curated assortment of merchandise in fine jewelry. Samuels Jewelers, Inc. is implementing a court-supervised process in the United States…

National Stores, Inc. Initiates Lender and Supplier Supported Restructuring – PR Newswire (press release)

GARDENA, Calif., Aug. 6, 2018 /PRNewswire/ — National Stores, Inc. (“National Stores” or the “Company”) announced today that it has initiated a court-supervised restructuring with the support of its lenders and suppliers integral to the business. The Company filed voluntary petitions for Chapter 11 relief in the United States Bankruptcy Court for the District of Delaware…