Following Citigroup’s first investor day since the 2008 recession, CEO Michael Corbat said his bank has been primarily focused on positioning itself to take advantage of a changing industry. “We’ve repaired a lot of relationships,” Corbat told “Mad Money” host Jim Cramer on Wednesday. “From a credit perspective, from an earnings perspective, from a business…
Commodities giant Noble Group has outlined a sweeping restructuring plan as it warned investors to brace for a $1.8bn (£1.38bn) loss in its second quarter. Singapore-listed Noble, which ships raw materials such as oil, gas, metals and minerals to high-growth markets in Asia and the Middle East, will sell off its US gas and power…
LOS ANGELES, July 26, 2017 /PRNewswire/ — BCBG Max Azria Group, LLC (“BCBG” or the “Company”) is pleased to announce that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s comprehensive restructuring plan which contemplates the sale of substantially all the assets of the Company and certain of its…
(RTTNews) – While reporting its second-quarter financial results, Tupperware Brands Corp. (TUP) said it has decided to wind-down Beauticontrol’s operations. Tupperware said that after being unsuccessful in finding a buyer for the business, it has decided to wind-down Beauticontrol’s operations over approximately the next 60 to 90 days. The company expects a small amount of…
“BCBG has accomplished its goal to remain a viable, creative and strong brand through the sale transactions with Marquee and Global Brands,” said Marty Staff, Acting Interim Chief Executive Officer of BCBG Max Azria Group, LLC. “I would like to thank the BCBG team and all parties involved for their hard work. While there is no…
The full year earnings of freight giant Aurizon will be hit with another $606 million worth of impairments and restructuring costs, with the company’s struggling intermodal and bulk transport division continuing to drag on earnings. Aurizon said on Wednesday evening that the company would post underlying earnings before interest and tax of $836 million for…
OSLO: Offshore drilling contractor Seadrill delayed the restructuring of its US$14 billion in debt and liabilities on Wednesday and reiterated that Chapter 11 bankruptcy proceedings were likely. Once the worlds biggest offshore rig firm by market value, its shares have plunged 99% since a peak hit in September 2013. The crown jewel in the business…
July 26 (Reuters) – Seadrill Ltd * Reg-Sdrl – amendments to secured credit facilities * It has reached an agreement with its bank group to extend comprehensive restructuring plan negotiating period until 12 September 2017 vs earlier until July 31 2017 * Company has also received lender consent to extend maturity date under us$400 million…
Time Inc. is trying to sell Coastal Living, Sunset and Golf magazines, CEO Rich Batista told Bloomberg in an interview Tuesday. The move comes on the heels of the company cutting its global staff by 300 employees as part of a restructuring plan, just last month. The company embarked on the plan after deciding not…
Time Inc. is trying to sell Coastal Living, Sunset and Golf magazines, CEO Rich Batista told Bloomberg in an interview Tuesday. The move comes on the heels of the company cutting its global staff by 300 employees as part of a restructuring plan, just last month. The company embarked on the plan after deciding not…