A person looks into a closed Macy’s Inc. department store near Union Square in San Francisco, California, U.S., on Thursday, June 18, 2020. Michael Short | Bloomberg | Getty Images Macy’sannounced Thursday it is cutting 3,900 corporate jobs 3% of its total workforce to reduce costs as it struggles with the effects of the coronavirus…
DetailsThe coronavirus pandemic has wreaked havoc on the Australian economy, and the financial effects for many are deeply personal. Sadly, theres no shortage of terrible advice online when it comes to personal finance. And as September 30 looms – the date by which JobKeeper, the increased JobSeeker and many negotiated rent and mortgage deferrals end…
DetailsA challenge to a judgment which found that one partner of a corporate insolvency firm ambushed the other to leave the business has been partially [] Subscribe for instant access to all Lawyerly content. Already a subscriber? Lost your password? Want to test drive Lawyerly? Contact us to take a free trial. Read the full…
DetailsPop up Kitchen Limited was incorporated in June 2015 and Alan Vinnicombe (65) was appointed a director at the same time. The company traded as a consultancy for the catering industry before taking over the licence and management of the kitchen at the Blue Ball Inn in Exeter. By October 2018, however, Pop Up Kitchen…
DetailsGerman payments giant Wirecard has filed for insolvency in the midst of a major accounting scandal linked to a 1.9bn (1.7bn) hole in its finances. The development comes just days after its former chief executive Markus Braun was arrested on suspicion of falsifying accounts at the company, which processes tens of billions of euros in…
DetailsThroughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 72 bankruptcies in week 24. This is 18 up on the previous week. In addition, 12 sole proprietorships were declared…
DetailsThe legalization of recreational cannabis in 2018 opened the doors for Canada to be a first-mover in what analysts predicted would be an exciting and lucrative industry. Although the cannabis industry has experienced significant business growth, recent headwinds have resulted in some cannabis companies starting to encounter short-term liquidity challenges as they grow their operations.…
DetailsBy Todd K. Wolynski, partner at White & Case LLP, and Oliver Althoff, Managing Director – North America at Seabury Securities LLC.1 If you are an aviation professional in the COVID-19 era, you are likely learning about, or reacquainting yourself with, the restructuring process. Airlines, helicopter operators and their principals and managers who have long…
DetailsCrashing crude oil prices this year have wrecked the finances of most oil and gas companies. Some have experienced such financial hardship that they’ve had to declare bankruptcy. The longer oil prices remain lower, the more this list is likely to grow. Investors need to brace themselves for more turbulence ahead in the sector. Several…
DetailsCheckers Drive-In Restaurants Inc. is turning to financial advisers to navigate the coronavirus pandemics impact on a business model that was already deteriorating, according to people familiar with the matter. The burger chain, owned by private-equity firm Oak Hill Capital Partners, hired investment bank Miller Buckfire & Co. and turnaround adviser Mackinac Partners to explore…
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