UK Braces for Highest Corporate Insolvencies Since 2004: PwC Report According to predictions by PricewaterhouseCoopers (PwC), the United Kingdom is bracing for a sharp increase in business insolvencies, with nearly 30,000 entities anticipated to fail in the next 12 months. This projection marks an alarming 15% surge, taking corporate insolvencies to their highest level since…
Details(Bloomberg) — The implosion of Rene Benkos luxury property and retail empire engulfed the unit that holds a stake in the Selfridges department store. Most Read from Bloomberg Signa Prime Selection AG, which owns most of the groups luxury properties including Berlins KaDeWe, filed for restructuring under self-administration Thursday, the company said in a statement.…
DetailsTaeyoung E&Cs Office Building in Yeouido, Seoul. [Photo by Kim Ho-young] South Koreas mid-tier builder Taeyoung Engineering & Construction Co. on Thursday applied for a debt workout amid fears over liquidity shortage sparked by troubled real estate project financing (PF) deals. Taeyoung E&C filed for a workout today morning, said a financial industry official on…
DetailsCreditors of a collapsed company in the building sector learned just before Christmas that they will not recover a single cent of their lost money. Victorian business MMD Concrete Construction Pty Ltd went into voluntary liquidation in September owing more than $1.2 million to creditors. Of that, $233,000 is owed to the Australian Taxation Office…
DetailsMuddy Paws Cheesecake in St. Louis Park will close its doors Wednesday, but its owner hopes donations will make this just a temporary shuttering. The small business has a debt load of $480,000, which has put the operation in dire straits despite a slew of honors for its many-flavored desserts, including a visit to the…
DetailsCiting a challenging business environment, online retailer Zulily is closing its doors. The company announced its liquidation process on its website Wednesday (Dec. 27), informing customers that it hopes to fill all ending orders in the weeks ahead. This decision was not easy nor was it entered into lightly, the company announcement said. However, given the challenging business environment…
DetailsPrivate sector lender Axis Bank has filed a petition against Zee Learn before the National Company Law Tribunal (NCLT) seeking insolvency proceedings against the the education services provider firm. The company has received a notice from the Mumbai bench of the NCLT in this regard, Zee Learn said in a regulatory filing on Tuesday. “A…
DetailsSummary Tom Hanks’ portrayal of Colonel Tom Parker in Elvis caused controversy due to his interpretation and the depiction of Parker’s unethical practices. The real Tom Parker was known for his controversial behavior in the entertainment industry, and the film accurately showcases his callous and manipulative nature. Parker’s association with Elvis Presley and their tragic…
DetailsYou could reportedly save up to hundreds of pounds by taking up the no-drinking challenge, according to this calculator tool. 2024 and a new year is looming but if you still need some convincing to give sobriety a go, calculating just how much you’ll save for passing on your usual pint might be the motivation you…
DetailsThe U.S. ecommerce company Zulily says it is closing down, surprising customers, after efforts to salvage the business failed SEATTLE — The U.S. online retailer Zulily is closing down, surprising customers and laying off hundreds of workers after efforts to salvage the business failed. The Seattle-based company said in a notice on its website that…
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