NEW YORK (Reuters) – Lenders to U.S. mid-sized businesses are increasingly concerned about the higher levels of debt held by middle market companies versus a year ago, as well as what they consider to be less restrictive leveraged loan documents, a survey by Carl Marks Advisors found. Higher leverage levels and borrower-friendly loan agreements, the…
Trouble burger restaurant chain Byron has announced a financial rescue plan that could close up to 20 shops a decade after it first opened its doors. The company has launched a restructuring process known as a company voluntary arrangement (CVA) as it tries to lower its rental bill and focus on a smaller number of…
NEW YORK (Reuters) – Lenders to U.S. mid-sized businesses are increasingly concerned about the higher levels of debt held by middle market companies versus a year ago, as well as what they consider to be less restrictive leveraged loan documents, a survey by Carl Marks Advisors found. Higher leverage levels and borrower-friendly loan agreements, the…
Harriet Agnew January 9, 2018 Shares in Altice NV rose sharply on Tuesday morning following an announcement late on Monday of a wide-ranging organisational shake-up and restructuring of the struggling global telecoms group. Altices shares rose over 10 per cent in early trading as the market welcomed the news that it will spin off its…
NEW YORK–(BUSINESS WIRE)–On Jan. 1, Norton Rose Fulbright promoted 10 lawyers to partner in the United States. The new partners are: Beau Cox and Seth Isgur, commercial litigation; Sumantha Rani Sedor, corporate and life sciences; Brenda Hanzl and Becky Limmer, corporate, M&A and securities; Mina Matin, financial institutions and insurance; Eric Daucher and Ryan Manns,…
REUTERS/Mike Segar GoPro on Monday announced a big restructuring plan that’s part of its effort to become profitable this year. The action-camera maker said it will lay off more than 250 workers worldwide, exit the drone business, and reduce CEO Nicholas Woodman’s 2018 cash pay to $1. The company also lowered its fourth-quarter revenue forecast. …
Pan Kwan Yuk January 8, 2018 GoPro unveiled a major restructuring of its business on Monday after the embattled action camera maker unexpectedly issued a big sales warning for the all-important holiday quarter. The company, which has been struggling with weak sales of its latest wearable camera, said it was cutting more than 254 jobs…
By January 8, 2018, 9:13 AM EST Updated on January 8, 2018, 10:40 AM EST GoPro Inc. said its cutting more than 20 percent of its global workforce and putting an end to its drone business after a disappointing fourth quarter. The company said it now expects sales of about $340 million, well short of its…
Dubai-based contracting giant Drake & Scull International (DSI) has announced that it has successfully completed the restructuring of its corporate general bank debt in the UAE. The company said in a statement that it has also secured new credit lines and working capital facilities for its ongoing and new projects portfolio. DSI said it has…
MINNEAPOLIS–(BUSINESS WIRE)–Regis Corporation (NYSE: RGS), a leader in the haircare industry, whose primary business is owning, operating and franchising hair salons, today announced it will close approximately 600 nonperforming Company owned SmartStyle salons on January 31, 2018. Our people are at the center of who we are and what we do, said Hugh Sawyer, President…