A local travel company specialising in educational tours has gone into liquidation, citing COVID-19 and issues with its insurance company as the final nails in the coffin. Antipodeans Abroad has been showing high schoolers, schoolies and university students the world for almost 30 years, but COVID-19s travel restrictions and cancellations have all but wiped the…
DetailsSummary The COVID-19 Pandemic has disrupted business activities leading to a significant business loss in many sectors primarily hospitality, tourism, airlines, and retail industry, pushing operators towards insolvency Government stimulus programs such as job-keeper program and a temporary moratorium on director liability for insolvent trading are set to become ineffective from September end to November,…
DetailsJuly 20, 2020 02:00 ET | Source: TECHNICOLOR multilang-release PRESS RELEASE The shareholders general meeting has approved the financial restructuring plan Implementation of the first tranche of the New Money facility for an amount of c. 240 million Paris (France), 20 July2020 Technicolor (EuronextParis: TCH; OTCQX: TCLRY) announces that, on the basis of information received,…
DetailsTOT reworks management divisions Merger with CAT looms in January A man enters TOT headquarters on Chaeng Watthana Road. The state telecom plans to position itself as an infrastructure sharing provider. PATTARAPONG CHATPATTARASILL State telecom enterprise TOT plans to cut almost one-third of its 83 divisions and reduce its existing senior executive vice-president (SEVP) positions…
DetailsUp to 750 jobs could go in the proposed restructure of The Warehouse, the company’s chief executive officer says. Photo: RNZ / Nate McKinnon Staff were called to an 8am meeting today to hear the company’s plans. In a statement, chief executive officer Pejman Okhovat said the restructuring will mean cutting 500 to 750 jobs.…
DetailsImage caption “Buy now, pay later” allows customers to delay payment or split it into smaller instalments Buy now, pay later service Klarna has seen a boom in business during Britain’s lockdown. That includes a 105% increase in the number of running shoes purchased using its services, a 60% hike in beauty product sales and…
DetailsIn our June quarterly report we took a look at some of the major events of the last 12 months and consider why the market is expensive, yet for most investors, it doesn’t matter. Market Movements and Drivers The 2020 Financial Year certainly threw up some challenges. To think the biggest global issues investors were…
DetailsThe Warehouse is holding meetings at its stores on Monday morning after consultation about proposed job losses and store closures. More than 1080 jobs are expected to go as part of major restructure across the Warehouse Group that could result in at least six store closures. The Warehouse Group, which owns The Warehouse, Warehouse Stationery,…
DetailsAs the economic stress due to the pandemic deepens, banking is surely going to be one of the most affected sectors, due to heightened default in payments One element often discussed in this context is the new arrangements that SEBI and the RBI are making to ease the pressure on the banking system Many banking…
DetailsThe accommodation industry freefall has hit Sydney-based real estate fund manager iProsperity Group hard. iProsperity fell into voluntary administration on Thursday, less than three months after sounding out plans to acquire a portfolio of seven Kimpton Hotels in the US for $US477 million (A$720 million). The Hong Kong-backed fund manager, led by Michael Gu, has…
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