Its official: Elder-Beermans parent company is headed for liquidation. Bon-Ton Stores Inc. officials announced a joint bidder, including a group of the bankrupt retail chains bondholders, won an auction for the companys asset. Great American Group and Tiger Capital Group and the holders of Bon-Tons second-lien secured notes will acquire the retailers inventory and certain other…
2:05 pm Europe Trade: European markets were slightly higher, as investors monitored a fresh batch of corporate earnings and economic data. France’s CAC was up 0.47 percent, Germany’s DAX 0.33 percent and Britain’s FTSE gained 0.82 percent. 1:55 pm Gold Snaps 3-session of Gain: Gold prices slipped after rising for three straight sessions as investors opted for…
Clive Palmer says he once offered to pay the debts of Queensland Nickel and that he will seek to halt legal proceedings against the failed company. The former federal MP has faced the supreme court in Brisbane, claiming there had been an abuse of process and that legal proceedings involving the nickel company should stop.…
Sasha deBretton Perths self-styled queen of rich-list renovations has placed her group of companies, including the flagship Million Dollar Makeovers, into liquidation. As of the first week of this month, three of Ms deBrettons firms were in the hands of liquidators Cameron Shaw and Brent Kijurina, working for accountants Hall Chadwick. In contrast to Ms…
A court-supervised auction of the bankrupt business started on Monday. According to Reuters, sources familiar with the matter said the only bidders were liquidators. If the U.S. Bankruptcy Court in Wilmington, Delaware, approves the sale of Bon-Ton to a liquidator, it could mean the closure of all Bon-Ton stores, including the Herberger’s and Herbergers Home…
Sasha deBretton Perths self-styled queen of rich-list renovations has placed her group of companies, including the flagship Million Dollar Makeovers, into liquidation. As of the first week of this month, three of Ms deBrettons firms were in the hands of liquidators Cameron Shaw and Brent Kijurina, working for accountants Hall Chadwick. In contrast to Ms…
Younkers (WHO-HD) × 7 Iowa Younkers Stores to Close, Parent Company Headed for Liquidation Younkers (WHO-HD) DES MOINES, Iowa Documents filed with Iowa Workforce Development signal a closing of seven Younkers stores in the state. The action lends more credibility to a Reuters report that the stores parent company, Bon-Ton, is being bid on by two…
Vedantas bid to acquire the bankrupt Electrosteel Steels received the final nod from the Kolkata Bench of the National Company Law Tribunal (NCLT) on Tuesday. The Division Bench comprising Justice Jinan KR and Justice Madan Balachandra Gosavi, in its order on Tuesday, said that the approved resolution plan (RP) shall come into force with immediate…
WILMINGTON, Del./NEW YORK (Reuters) – Bon-Ton Stores Inc, a bankrupt chain of 200 regional department stores, will go out of business after the only bidders competing at the Monday start of its court-supervised auction were liquidators, two sources familiar with the matter told Reuters. Bon-Ton had been working with U.S. mall owners Namdar Realty Group…
Franchisees of Aussie Farmers Direct say they have zero faith in seeing any money owed to them by the business, as the administrators of the grocery delivery chain say winding up the company is the most viable option. The grocery delivery operator fell into voluntary administration in March and franchisees were left shell-shocked by an…