BHS, the 88-year-old department store chain which collapsed into administration in April, is now facing liquidatation at the potential cost of 11,000 jobs after the administrators said they were unable to locate a buyer. The administrators, Duff & Phelps, had been widely expected to name a new BHS owner today, with a consortium fronted by the UK retail…
DetailsBHS to be wound down as rescue attempt fails 2 June 2016 From the section Business Image copyright Getty Images Department store BHS is to go into liquidation with the loss of up to 11,000 jobs after efforts to find a buyer failed. The decision followed a lengthy bidding process aimed at saving BHS, which…
DetailsMunich Reinsurance Co. Munich Reinsurance Co.’s ailing primary insurance unit, ERGO Insurance Group, said Wednesday that it plans to lay off 1,800 employees as part of a $1.1 billion restructuring plan. The plan, which is scheduled to be completed by 2020, also includes exiting 18 locations in Germany and bulking up its digital capabilities, Duesseldorf,…
DetailsNRL CEO Todd Greenberg says players will be banned for life if match fixing allegations are proven correct. COLOURFUL racing identity Eddie Hayson has had a long and chequered history with betting agencies and NRL players. Hayson, the former owner of brothel Stiletto before being declared insolvent with $52 million in debts, is one of…
DetailsGourmet food retailer Jones the Grocer has collapsed into voluntary administration for the second time. PPB Advisory were there afternoon appointed as administrators to JTGS, which is the Australian operator of the four remaining Jones the Grocer and Becasse stores in Australia. The sole shareholder of JTGS is L Capital Asia, the private equity arm…
DetailsWolseley announced in March that it would be closing 15 branches and cutting a couple of hundred jobs in the UK, and now plans to step up its restructuring plan. In its outlook, it said: We have committed to further restructuring in the UK and Europe, bringing the total expected costs for the full year…
DetailsCitizens Advice Causeway has launched a new Debt Advice service across Northern Ireland. The service is aimed at individuals who need help with their debt problems. Statistics show that the percentage of over-indebted individuals in the Causeway Coast and Glens Borough Council area sits at 20.5 percent, thats higher than the UK average of 16.1…
DetailsOn top of dwindling orders, weak cash position. Things are heading south quickly for Cosco Corp Singapore (Cosco) as analysts outlook grow more bearish over the business leveraged position, problematic cash flow, and complicated restructuring efforts. According to a report by OCBC, new orders have dwindled for the group. The past few years have seen…
DetailsBy Malcom Nyathi VICTORIA FALLS The United Touring Company (UTC) a business in which Local Government Minister Saviour Kasukuwere and former labour minister Nicholas Goche are shareholders has been liquidated. Saviour Kasukuwere A leading tour operator and travel agent during its heydays, UTC went belly-up a few months ago after failing to navigate the countrys…
DetailsEXCLUSIVE Video will begin in 5 seconds. More video Recommended Replay video NSW Police looking at NRL match-fixing claims The NSW Organised Crime Squad are in the early stages of investigating two NRL matches after claims of match-fixing emerged. PT0M39S 620 349 Controversial gambler and former brothel owner Eddie Hayson is embroiled in a NSW police…
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