Since its enactment in 2016, the Insolvency and Bankruptcy Code has been the crowning achievement of the NDA governments reform agenda. With the Finance Minister quoting recoveries of close to 3-lakh crore due to the IBC, there is little doubt that the IBC has helped dent the bad loan crisis in the country and has…
DetailsLiquidation involves finalising the financial affairs of an organisation, selling off the businesss assets to repay any debts, and dismantling the companys structure. Often confused with bankruptcy, liquidation is the only way to wind down operations and shut down an organisation in an orderly way. Liquidation commonly occurs if a company cant meet debt obligations…
DetailsThe Australian arm of custom toy chain Build-A-Bear Workshop will close 10 of its stores by the end of the month after entering voluntary administration on Wednesday. Remaining stores will continue to trade as normal as the retailer considers its options moving forward. Build-A-Bear Australia chief executive Gavin Port said the business has been working…
DetailsInterserve could go into administration on Friday as the outsourcing group fights to win support for a restructuring plan before a crunch vote. Shareholders will give their verdict at an emergency meeting on Friday on a proposal put forward by banks and hedge funds, which have offered to forego 485m of the companys 631m debt…
DetailsDAZN Group announced this week that its business division formerly known as Perform Media has rebranded as DAZN Media. The new entity is responsible for handling global media partnerships and will integrate advertisements into DAZNs sports streaming content for the first time. To assist DAZNs new advertising division, the company also announced the launch of…
DetailsExecutive Summary The ability to get issues on the table and work through them constructively is critical to having a healthy culture. Managers can normalize productive conflict on your team by using an exercise to map out the unique value of each role and the tensions that should exist among them. Draw a circle and…
Details(Reuters) – Pier 1 Imports Inc has tapped debt restructuring lawyers to navigate potential negotiations with lenders as it struggles with falling sales, people familiar with the matter said on Thursday, sending shares of the U.S. home furnishing retail chain sharply lower. FILE PHOTO: The Pier 1 Imports store is seen in Broomfield, Colorado September…
DetailsPARIS (Reuters) – French retailer Casino, battling investor concerns over its high debt, vowed to boost profits and cash flow in its core French market and sell off more assets under a three-year strategy plan. FILE PHOTO: A customer shops in a Casino supermarket in Nice, France, January 15, 2019. REUTERS/Eric Gaillard/File Photo Investors initially…
DetailsAnd experts warned that these difficulties come as care homes still struggle with debts from before the credit crunch. As a result, 101 care homes were declared insolvent in 2018. Analysts from the accountancy and business advisory firm BDO LLP, which conducted the research, warned that the sector is continuing to suffer from trading difficulties…
DetailsThe Australian arm of Build-A-Bear Workshops has been placed into voluntary administration with ten locations around Australia to close almost immediately. The much-loved venue gives kids the chance to customise their own toy, and are often used for childrens parties. The company has 30 stores and other retail outlets around Australia but ten of those…
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