British Steel, the U.K.s second-largest steelmaker, has gone into liquidation, blaming uncertainty over Brexit for its demise. The British government is now in control of the company after declining to provide it with a 30 million pound bailout and the search for a buyer has already begun. British Steels private-equity owner, Greybull Capital, said its…
Details(Reuters) – The collapse of British Steel has once again put private equity owner Greybull Capital in the spotlight for the wrong reasons. Run out of London by Frenchman Marc Meyohas using family money, Greybull is well known for buying up companies in distress on the cheap with the aim of turning them around. But…
Detailsnews, local-news, winemaking tasmania, wine, administraion, producer, cider, tasmania Winemaking Tasmania has been placed into voluntary administration. The Tasmanian wine and cider producer has entered the administration with the appointment of Andrew Yeo and David Vasudevan of Pitcher Partners. Mr Yeo and Mr Vasudevan will oversee continued trading of the company while an independent assessment…
DetailsBusiness Secretary Greg Clark Thousands of jobs on line as British Steel goes into liquidation BelfastTelegraph.co.uk British Steel has gone into liquidation, threatening thousands of job losses amid revelations that it would have run out of cash by the end of the week. https://www.belfasttelegraph.co.uk/business/northern-ireland/thousands-of-jobs-on-line-as-british-steel-goes-into-liquidation-38138933.html https://www.belfasttelegraph.co.uk/incoming/article38139952.ece/ee772/AUTOCROP/h342/P35ClarksteelPOLITICSC7.jpg Email British Steel has gone into liquidation, threatening thousands of…
DetailsIn a crucial move, the government is preparing individual insolvency regulations under the Insolvency and Bankruptcy Code (IBC) that will provide for debt waiver up to `35,000 to the poorest of the poor, who have borrowed money from not just banks but also informal sources like village money lenders.Once the regulations are in place, the…
DetailsBy now, youre probably well aware that student loan debt has become a national crisis. Over 44 million borrowers owe more than $1.5 billion collectively at last count, and the student loan delinquency rate (loans 90+ days rate) remains relatively high at 11.4%. Worse, more than 609,000 souls owe more than $200,000 on their student…
DetailsDuring a ceremony to celebrate the resurrection of British Steel almost three years ago, a flag bearing its new logo was proudly raised at the entrance to the Scunthorpe steelworks. In not too long, it may be flying at half-mast. The company entered insolvency on Wednesday after talks failed between its lenders, private equity owner…
DetailsBritish Steel goes bankrupt, threatening 25,000 jobs By Robert Stevens 23 May 2019 Nearly 5,000 steelworkers jobs and another 20,000 in supply industries could be wiped out after Tuesdays announcement that British Steel is insolvent. The company, owned by vulture fund Greybull Capital, is the second largest steel producer in the UK after Tata. Its…
DetailsBritish Steel has gone into liquidation after talks with the Government failed to secure its future, dealing a huge blow to the industry and threatening thousands of job losses. Workers at the companys plants now face weeks of uncertainty as efforts are made to rescue the business. The grim news was given to employees after…
DetailsEarly this morning, Burger King sent a mysterious tweet that has debt-burdened Americans on social media all atwitter. It reads simply: got student loans? whats ur $cashtag? Since then, more than 51,000 responses have come in, many from graduates young and old with heavy college debts to pay off. The folks at Cash App, who…
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