A bankruptcy court has admitted Mumbai-based quick service restaurant (QSR) chain Goli Vada Pav Pvt. Ltd. under the corporate insolvency resolution process (CIRP) and has appointed Vinod Radhakrishnan Nair as the resolution professional of the company. Goli Vada Pav was taken to the Mumbai bench of the National Company Law Tribunal (NCLT) by Vista Processed…
Alternative investment manager Ares SSG Capital Management has filed an application with the Bengaluru bankruptcy tribunal to admit Coffee Day Enterprises for corporate insolvency over its 228-crore bond default, people aware of the development told ET. The global fund filed the application through IDBI Trusteeship. Coffee Day Enterprises (CDEL) informed the exchange about the insolvency…
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Shares of Goodyear Tire & Rubber Co. GT, +0.08% rose 1.5% in the extended session Friday after the tire company said it has embarked on a rationalization plan and workforce reorganization in Europe, Middle East and Africa aimed at improving its cost structure. This restructuring is a part of a broader set of actions the company…
A failed Australian furniture retailer has been saved at the last minute in a white knight rescue that will see customer orders honoured. Last month, news.com.au reported that Fenton & Fenton, a melbourne-based homewares boutique, had entered into liquidation. News of its collapse sparked concern from customers who were worried they wouldn’t receive the furniture…
It looks like there’s a revival coming for Fenton & Fenton. The eclectic melbourne-based interiors label – which went into liquidation in early August – has been acquired by the Berkowitz Furniture group and is set to resume trading before the end of the year. Under the deal, founder Lucy Fenton will stay on as…
September 8, 2023 Practices: Business Restructuring The M&A Advisor recognized Ropes & Grays business restructuring practice in its 14th annual International M&A Awards. Ropes & Gray is honored for restructuring deal of the year advising Vewd Software AS through a prepackaged Chapter 11 cases. The business restructuring practice is also recognized in the healthcare/life sciences…
By Alice Cullinane & Keri Trigg BBC News, West Midlands The leader of Shropshire Council said the authority considered issuing a notice to declare bankruptcy, but decided against it. Inflation and increased demand for services meant the council’s reserves were “practically gone”. They raised the issue in a cabinet meeting in the same week that…
Mumbai: IDBI Trusteeship has moved the Bengaluru bench of the National Company Law Tribunal to initiate insolvency proceedings against Coffee Day Enterprises Ltd for an alleged default of 228 crore, the company said in a regulatory filing on Friday. Coffee Day Enterprises is the parent company of the Coffee Day group. The company is seeking…
As part of the ongoing bankruptcy process of coffee chain firm Cafe Coffee Day (CCD), an application has been filed against the company under Section 7 of the Insolvency and Bankruptcy Code (IBC). According to a regulatory filing by Coffee Day Enterprises to the stock exchanges September 8, the application is filed by IDBI Trusteeship…