Category Archives: Restructuring

Thai Airways International : Notifies the Resolution of the Creditors' Meeting on Business Operation in Aviation Restructuring – Marketscreener.com

On 17 May 2023, Thai Airways International Public Company Limited (THAI) held a creditor committee’s meeting that reached a resolution in favor of the company’s restructuring of business operation in aviation as proposed by the Plan Administrators and THAI management.AttachmentsOriginal LinkOriginal DocumentPermalinkDisclaimerThai Airways International pcl published this content on 17 May 2023 and is solely…

TuSimple to lay off 30% of workforce, keep China business – Yahoo Lifestyle Australia

TuSimple, the once high-flying autonomous trucks company that went public in 2021, is restructuring and laying off about 30% of its global workforce as it works to preserve cash and stay in business. All of the layoffs will occur in TuSimple’s U.S. workforce. Prior to the layoff, TuSimple had about 550 employees in the U.S.…

TuSimple to lay off 30% of US workforce, keep China business – Yahoo! Voices

TuSimple, the once high-flying autonomous trucks company that went public in 2021, is restructuring and laying off about 30% of its global workforce as it works to preserve cash and stay in business. All of the layoffs will occur in TuSimple’s U.S. workforce. Prior to the layoff, TuSimple had about 550 employees in the U.S.…

TuSimple to lay off 30% of U.S workforce, keep China business – TechCrunch

TuSimple, the once high-flying autonomous trucks company that went public in 2021, is restructuring and laying off about 30% of its U.S. workforce as it works to preserve cash and stay in business. The announcement early Thursday comes a week after the company disclosed that it received a delisting notice from the Nasdaq for failing to file…

Great Annual Savings falls into administration after court rejects restructuring plan – Business Live

North East energy consultancy Great Annual Savings has fallen into administration with the loss of more than 100 jobs after a restructuring plan was rejected at a High Court hearing. The former Sunderland AFC shirt sponsor, based in Seaham, County Durham, had put together a plan in a last ditch bid to counter a winding-up…

TuSimple Holdings Announces Restructuring of U.S. Operations and … – PR Newswire

Aligning capital spend with overall market conditions and pace of industry readiness Reorganization of U.S. operations and a reduction in force to focus development efforts No longer seeking strategic alternatives for Asia Pacific business SAN DIEGO, May 18, 2023 /PRNewswire/ — TuSimple (Nasdaq: TSP), a global autonomous driving technology company, announced a restructuring plan for its…

TuSimple to restructure US business, lay off 30% staff – Reuters

May 18 (Reuters) – TuSimple Holdings Inc (TSP.O) said on Thursday it will cut 30% of its workforce in the United States under a restructuring as the autonomous driving technology company looks to preserve its balance sheet amid a funding crunch in the sector. The shares of the company fell more than 8% in premarket…

Points to learn from The High Court's decision in the Great Annual … – Shoosmiths legal updates

The recent sanction judgment gives important guidance on the way in which the court’s discretion should be exercised when sanctioning a restructuring plan and considers whether it is necessary for opposing parties to provide valuation evidence of their own . Key takeaways from the judgment No worse off test: expert evidence An opposing party is…

Analysis: Debt restructuring no panacea for Chinese developers as … – Reuters

HONG KONG, May 18 (Reuters) – A shrinking land bank and sluggish property demand are likely to hamper the plans of a growing number of private Chinese developers who have defaulted on their debt and are restructuring it to win breathing room to revive their fortunes. Those hurdles could hinder the drastic improvements in sales…

Xero posts $113 million loss after Planday write-down and … – Stuff

Supplied Xeros loss was largely the result of restructuring costs and a write-down in the value of a business it bought in 2021. Small business accounting services company Xero has reported an after tax loss of $113.5 million despite a 28% increasing in its earnings. The net loss for the 12 months to the end…