The Treasury is in talks with the UKs largest banks about an industry-wide plan to help tackle the tens of billions of pounds of bad debts expected under the governments light-touch coronavirus bounce back loans scheme. More than 1m of the UKs smallest companies have borrowed 33bn in just two months under the bounce back…
DetailsAfter the immediate virus crisis, he says that if interest rates remain low, the government consistently balances the budget and economic growth is about a trend 2.75 per cent, gross debt-to-GDP could be reduced by 1 percentage points a year. Frydenberg and Finance Minister Mathias Cormann have emphasised that the key to sustainable debt management…
DetailsRobert Barnes | Getty Images A number of retailers were already teetering on the brink of collapsing prior to the coronavirus pandemic slamming the industry. The pressures have intensified immensely. A few big names in retail, including Pier 1 Imports and Modell’s Sporting Goods, filed for bankruptcy much earlier in the year, weighed down by…
DetailsUpdated 1 hour ago LITTTLETON, Colo.–(BUSINESS WIRE)–Jul 24, 2020– APC Automotive Technologies, LLC, together with certain of its subsidiaries, (APC or the Company), today announced that it has successfully implemented the debt restructuring set out in the Restructuring Support Agreement with its asset-based lenders, term loan lenders, and significant equity holders, following confirmation of the…
DetailsWitnessed through the lens of a technology company, Kiwi SMEs appear to be going through three distinct stages post the Covid-19 lockdown the ‘work from home’ stage, the ‘do more with less staff’ stage and the ‘re-invent service offerings’ stage but there are fears they may be trying to change too much, too quickly. Hamish…
DetailsSANTA CLARITA, Calif.–(BUSINESS WIRE)–California Resources Corporation (OTC: CRCQQ) announced today that it has entered into an amended and restated Restructuring Support Agreement with approximately 85% of the holders of its term loans due 2017 and 68% of the holders of its unsecured and deficiency debt claims. Reflecting this consensus, CRC has filed a plan of…
DetailsSaturday, 25 July 2020, 6:22 amPress Release: OneHQ Witnessed through the lens of a technology company, Kiwi SMEs appear to be going through three distinct stages post the Covid-19 lockdown the ‘work from home’ stage, the ‘do more with less staff’ stage and the ‘re-invent service offerings’ stage but there are fears they may be…
DetailsAnalysts are warning of a surge in defaults in consumer debt in the US if Congress fails to extend the programme of increased unemployment benefits that was put in place to ease the effects of the coronavirus outbreak. Lawmakers are locked in negotiations over further stimulus to replace the pandemic unemployment assistance payments, worth $600…
DetailsAndorra-based European LED screen and lighting manufacturer Llum Creativa, trading as ARCH LED, has been declared insolvent. An administrator, Lourdes Alonso Martnez, has been appointed by the court in Andorra and creditors have 30 days to make contact. The company was founded in 2003 by Belgian entrepreneur Sebastian Clement, and initially served the entertainment and…
DetailsSteve Jackson Innocean executive creative director Steve Jackson is departing the agency as part of a wider restructure. Jackson has been with the agency, which has clients such as Hyundai and Kia, since early 2017 and has also previously worked at DDB and Droga5 as creative director. He leaves Innocean due to a restructure as…
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