KONE Corporation, stock exchange release, September 26, 2017 at 09.35 a.m. EEST KONE updates its 2017 business outlook to take into account restructuring costs from the Accelerate program, current foreign exchange rates and the latest business performance forecast KONE announced today a program to accelerate the execution of the Winning with Customers strategy…
DetailsA security industry training provider has gone into voluntary administration after suspending classes across its six Victorian campuses, leaving students in limbo. The Complex Institute of Education’s phone number on Wednesday morning only had a recorded voicemail saying classes would not be running “until further notice”. Students were instructed to await an SMS or email…
DetailsBERLIN (Reuters) – Lufthansas (LHAG.DE) supervisory board approved plans to invest 1 billion euros ($1.2 billion) in up to 61 additional planes to expand its Eurowings budget business after German rival Air Berlin was declared insolvent. Air Berlins creditors have selected Lufthansa and British budget carrier easyJet (EZJ.L) to negotiate over a carve-up of its…
DetailsFashion fail: Topshop Australia calls in administrators exit ???High-profile fashion retailer Topshop Australia has collapsed under debts and entered voluntary administration, with the future of its stores and workers under a cloud. Administrator James Stewart, of Ferrier Hodgson, said the company would continue to trade as normal while it considered its “optimal operating structure”. “It…
DetailsNew data from the Australian Financial Security Authority (AFSA) has revealed that excessive credit use has overtaken unemployment/loss of income as the most common cause of personal insolvency. The government agencys research found that of a total 25,225 cases of non-business related personal insolvency for the 2016-17 period, 8,870 (slightly over 35%) were due to excessive…
DetailsThe job of an insolvency resolution professional (IRP) is not all about exercising power just because he or she is is empowered, said Ashish Chhawchharia , partner restructuring services, Grant Thornton Advisory , which is now engaged in supporting ongoing insolvency proceedings at many firms including two of the large dirty dozen cases -Alok Industries…
DetailsCatching up with online surfwear retailer Surfstitch.com recently was an eye opener to what the business has been going through following the recent announcement that its holding companies had gone into voluntary administration. On 24th August 2017, SurfStitch Group Ltd announced it had gone into voluntary administration having been beleaguered with several legal issues, including…
DetailsA Moray engineering company has gone into liquidation with the loss of more than 30 jobs. Brown Engineering of Fochabers was established in the 1970s. It specialised in the manufacture, installation and maintenance of plant and machinery and pipework for the distilling and malting and oil and gas industries. Liquidators KPMG said 32 of the…
DetailsBy JAINDI KISEROMore by this Author I am well aware that the obsession of the moment in this country right now is politics. But I have decided to return to the issue of the government-backed bailout of Uchumi Supermarkets Ltd. I am compelled to do so in reaction to comments and inquiries by suppliers and…
DetailsRelated Story: Alleged mastermind behind tax-evasion scheme ordered to pay $8.5m Related Story: ‘Too many to count’: Controversial finance adviser’s alleged crimes laid bare An elderly Queensland couple face losing their home and business after falling victim to the alleged mastermind of a massive tax-evasion scheme, in a case…
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