A former oil and gas drilling company has resumed trading on the Australian share market under a new name and purpose: selling Australian products to Chinese tourists and “daigou”. AuMake International sells Australian cosmetics, vitamins, long-life milk, baby products, and wool and leather products through its wholesale warehouses and retail stores. The company wants to…
(Updates with liquidation deadline, context throughout) By Nichola Saminather TORONTO, Oct 4 (Reuters) – Sears Canada on Wednesday won court approval to extend credit protection by a month to Nov. 7, but its creditors set a deadline of this week to liquidate the retailers assets, leaving the company with mere days to decide its fate.…
TORONTO, Oct 4 (Reuters) – Creditors to Sears Canada have set a deadline of Oct. 7 for the retail chain to enter liquidation agreements for all its assets, leaving the company with just days to reach a deal to continue operations, a court-appointed monitor said. That tight deadline presents a challenge and could potentially derail…
Sears Canada Inc.s top executive is making a last-ditch attempt to keep the retailer alive as its creditors press for an accelerated liquidation to settle its debts. A special committee of the Sears Canada board will decide this week on Executive Chairman Brandon Stranzls bid to purchase some of its stores out of bankruptcy as…
TORONTO, Oct 4 (Reuters) – Creditors to Sears Canada have set a deadline of Oct. 7 for the retail chain to enter liquidation agreements for all its assets, leaving the company with just days to reach a deal to continue operations, a court-appointed monitor said. That tight deadline presents a challenge and could potentially derail…
TORONTO Sears Canada could begin a full liquidation of the business as soon as October 19th as the clock runs down on an offer from executive chairman Brandon Stranzl. Stranzl, who made a latest revised bid for the company on Tuesday night, is the only party who wants to run the business as a going…
By PHILIP MUYANGAMore by this Author PrideInn Hotels and Investments Ltd got a reprieve on Wednesday after the Court of Appeal suspended the execution of a judgment placing it into liquidation for its inability to pay a Sh69.3 million debt. The stay of execution of the judgment has been issued pending the filing, hearing and…
A former chief executive of Sears Canada says complete liquidation is inevitable and is the only likely outcome for the troubled retailer. It sounds like its an inevitability, said Mark Cohen, in an interview on BNN Wednesday. If the company is stepping in at this late date looking to sell yet more assets, theres very…
AdvertisementConstellation Enterprises Chapter 11 reorganization case has been converted to a liquidation under Chapter 7 in accordance with the September 27, 2017 order approving the Companys conversion motion. Advertisement As previously reported, The Debtors chapter 11 cases shall be convertedto cases under chapter 7 of the Bankruptcy Code, effective on October…
Sears Canada Inc.’s top executive is making a last-ditch attempt to avoid the company’s liquidation after a court-appointed monitor proposed asset sales that undercut his pending bid to keep some stores in business. A special committee of the Sears Canada board is weighing whether its executive chairman can keep a slimmed-down version of the retailer…