Dive Brief: AGI HoldCo, which does business as Aerosoles, announced on Friday that it has voluntarily filed petitions to reorganize under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware, according to a company press release. The company will close up to 74 retail stores as it reorganizes,…
Veritas is the Latin word for truth, a fact we mention because data management software vendor Veritas has offered The Register a revised explanation for the closure of its Sydney support desk after we received information that told a different story. That document was a workforce plan dated July 2017 and, in another irony for…
Shipping giant A.P. Moller-Maersk is taking the right steps to improve shareholder value, said the company’s former group chief executive. The conglomerate is currently in the midst of separating its transport and logistics businesses from its energy operations an effort that’s been many years in the making, Nils Andersen told CNBC on Friday. Maersk share…
EDISON, N.J., Sept. 15, 2017 /PRNewswire/ — AGI HoldCo, Inc., a multi-channel leading women’s footwear brand doing business as Aerosoles, announced today that it, along with certain of its subsidiaries (collectively, “Aerosoles” or the “Company“), have voluntarily filed petitions to reorganize under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for…
The City regulator is at loggerheads with MPs after refusing to publish a report it commissioned into the way Royal Bank of Scotland treated small business customers. Andrew Bailey, the chief executive of the Financial Conduct Authority, has told MPs on the Treasury select committee that publication of information in the report could be a…
Dana Gas dismisses fresh restructuring proposal – The National x Abu Dhabi, UAEThursday 14 September 2017 Read the full article at: https://www.thenational.ae/business/energy/dana-gas-dismisses-fresh-restructuring-proposal-1.628349
Sales are still falling at Myer. Progress on restructuring the department store has proved slower than expected. The company today posted a 1.4% drop in sales to $3.2 billion, down 0.2% on a comparable store basis, for the full year. Net profit after tax was down 1.9% to $67.9 million, but within analyst expectations. A…
Myer’s net profit plunged 80 per cent to $11.9 million in 2017 – the weakest result since its 2009 initial public offer – after the department store chain slashed the value of fashion labels and booked hefty restructuring costs. Myer’s underlying net profit, before one-off costs, slipped 1.9 per cent to $67.9 million – in line with revised guidance…
Alexion Pharmaceuticals, Inc . ALXN announced that it will undertake a restructuring plan to re-align the organization with refocused corporate strategy. Details of Restructuring The company plans to focus on rare diseases businesses in core areas of hematology, nephrology, neurology and metabolic disorders to enhance productivity. Alexion will reduce spending and headcount associated with the…
Getty Images (Reuters) – Seadrill Ltd, the indebted oil rig firm controlled by Norwegian billionaire John Fredriksen, has agreed a restructuring that almost wipes out existing shareholders after filing for Chapter 11 bankruptcy protection. A deal with a consortium of investors, as well as bank lenders and many of its bondholders, will bring in more than $1…