The Sissy-Boy chian was declared bankrupt by the court of Amsterdam on Friday. The company filed for deferment of payment earlier this month. At that time, the company had 45 of its own stores and 600 employees, NU.nl reports. The group made an attempt to become more profitable last year, by cutting costs and investing…
DetailsEuropes largest technology company SAP aims to more than double its market value to between 250 billion euros and 300 billion euros ($400-$480 billion) by 2023, chief executive Bill McDermott told a German newspaper. McDermott said SAPs market capitalisation had increased to 140 billion euros ($221 billion) from 45 billion euros ($71 billion) since his…
DetailsAn established Queensland farming family, whose members include an Italian bikini model and a Supercar driver, is tied to companies being examined for alleged debts of more than $11 million. The Barberas have been farming zucchinis, capsicum and tomatoes in the Bundaberg region for almost 50 years, currently operating under M & R Farms. Family…
DetailsGuarantee as a form of collateral security is popular in financing deals as the liability of a guarantor and the principal debtor are coextensive. Thus, the creditor has a remedy against both the principal debtor and the surety without the having to exhaust the remedy against one of the parties before proceeding against the other.…
DetailsCall to end asbestos waste levy Eighth person charged in baby formula smuggling ring Creditors of the crushed Payless Shoes will meet this month to decide whether to give the final boot to the Parramatta-based company after it collapsed two years ago with debts of more than $18 million. Administrators Ferrier Hodgson has confirmed total…
DetailsAxsesstoday has entered into voluntary administration after senior lenders revoked their support for the business. Axsesstoday, a publicly listed SME lender, went into voluntary administration after senior lenders said they were unable to continue supporting the business with ongoing waivers of breaches of loan terms. The lenders disclosure to the Australian Securities Exchange (ASX) states:…
DetailsCorporate regulator ASIC has been appointing liquidators to abandoned companies in recent months to recover more than $400,000 in unpaid employee entitlements. Companies including NISS Technologies, Jovawill Pty Ltd, Ruschi Pty Ltd, Steel Project Services and the Surat Basin Group are now being investigated by liquidators at ASICs behest, amid concern about illegal phoenixing activity.…
DetailsTHE Government may ban gambling with credit cards, a minister hinted yesterday. Culture Secretary Jeremy Wright said it intends to take action on the back of recommendations from the Gambling Commission on the issue. Getty – Contributor The Government has hinted towards action to clamp down on gambling with credit cards He told MPs he…
DetailsSir Philip Greens Arcadia Group has drafted two restructuring specialists on to its board as it prepares to shut stores and cut pension payments as part of a company-wide overhaul. Jamie Drummond Smith and Peter Bloxham will join the boards of Topshop, Arcadia Group and its parent firm Taveta Investments, according to a corporate announcement…
DetailsSpectra began managing Dallas Kay Bailey Hutchison Convention Center at the beginning of April. (Courtesy Spectra) John Page adds oversight of convention centers, sponsorship sales Facility management services firm Spectra has restructured its business, which extends to the departure of John Wentzell, its former president. Wentzell, whose final day at Spectra was March 29, had…
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