H&M one of the largest fashion retailers in the world, with more than 4,400 namesake stores in 72 countries is outshining its competitor, Forever 21. As Forever 21 nears a possible bankruptcy, the fast-fashion brand is reportedly seeking help in the form of a private-equity bailout. Meanwhile, H&Ms parent company recently reported a net sales…
DetailsA South Boston man will be sentenced in September after he pleaded guilty to loansharking and gambling charges in federal court in Boston Thursday, part of the same case that led to kidnapping charges against four other suspects, according to the office of US Attorney Andrew E. Lelling. Tam V. Nguyen, 51, engaged in an…
DetailsThe Company has received a Notice from National Company Law Tribunal (NCLT), Mumbai Bench on June 07, 2019 via an email, regarding an application filed by one of the Financial Creditors of the Company i.e. Corporation Bank to initiate Corporate Insolvency Resolution Process under Section 7 of Insolvency and Bankruptcy Code, 2016 read with rule…
DetailsThis is to inform you that the 19th Meeting of Committee of Creditors (CoC) was held on 04th June, 2019. In the said meeting the Resolution Plan of H1 qualified Resolution Applicant i.e. Som Distilleries Pvt. Ltd. was put to vote by COC members and the same was not approved by 100% voting share. The…
DetailsSome of the brightest football minds, as well as a long list of high profile administrators, say gambling is the biggest issue facing AFL players today. The topic was discussed on Drivelast week after a whisper was published which claimed bikies visited an AFL club over an unpaid gambling debt. Mark Robinson, the chief football…
DetailsAbsolute Resource Management Limited was incorporated on 30 November 2007 and began trading in 2009 under the sole directorship of Carol Perry. The Bedford-based company provided IT consultancy services to businesses. By August 2016, however, Absolute Resource Management was unable to pay its debts and appointed a liquidator to commence voluntary liquidation proceedings. The liquidators…
DetailsIf you have any experience with debt problems, it is likely you have seen the term IVA crop up. An IVA (individual voluntary arrangement) is a formal and legally binding agreement between you and your creditors to repay your debt over a period of time. Once an IVA is in place, it stops creditors who…
DetailsSUPPLIED Arrow International owners and directors Bob Foster and Ron Anderson attended a watershed creditors meeting. Arrow International was placed in liquidation by creditors after a resounding vote at a watershed meeting held by voluntary administrators at accounting firm BDO. DirectorsRon Anderson of Dunedin and Bob Foster from Christchurch attended one of the four simultaneous…
DetailsBongard, a German family-owned producer of equipment for the cable industry, wants to buy the production lines of the Romanian power and fiber optic cable producer Romcab, which went into insolvency in 2017, Profit.ro reported. Bongard has submitted an offer for the assets. Romcab turned to the LXM investment fund to analyze the companys situation…
DetailsForever 21 is exploring restructuring options to shore up its liquidity as the fast-fashion giant struggles with its business. The company is in talks with private equity firm Apollo Global Management about raising debtor-in-possession funds to provide financing should it file for bankruptcy. The talks come asthe apparel industry continues to struggle amid sweeping…
Details