Yes, Chanticleer (“Dick Smith receivership gets the drums beating on risk“, January 8), Dick Smith is indeed a lesson to all. And yes, there are actually plenty of convenient targets too. Not just investors who swallowed the bait hook, line and sinker. What about private equity managers who dress up companies with slick financial engineering and often…
DetailsJames Packer’s $4 billion gamble on growth returning to Macau’s embattled casino sector has been rewarded with Studio City helping to boost its market share. Photo: Bloomberg James Packer’s $4 billion gamble on growth returning to Macau’s embattled casino sector has paid its first dividends with Melco Crown Entertainment boosting its market share above 16…
DetailsThe retailer announced Wednesday the locations of 36 stores closing across the U.S. See the list below. Shoppers carry bags as they cross a pedestrian walkway near Macy’s in Herald Square, Nov. 27, 2015, in New York. After a disappointing 2015, Macy’s plans to restructure its business and eliminate more than 4,500 positions.(Photo: AP) Capping…
DetailsComments Print /License AA United States Steel Corp., which cut its ties with its Canadian unit last fall, says a liquidation of the business should be considered. The Canadian company, now independent, but operating in creditor protection under the umbrella of the Companies Creditors Arrangement Act as U.S. Steel Canada Inc. (USSC), is seeking court…
DetailsHome furnishings company Laura Ashley Australia has collapsed into voluntary administration. External directors were called in to manage the business today, with Ross Blakeley from Quentin Olde and John Park from FTI Consulting appointed as administrators. Laura Ashely was founded in Australia in 1971 and operates 38 stores in Australia and four in New Zealand…
DetailsNo seriously, why are we still working? Mike Dowson explains in simple terms the great con that keeps you chained to the wheel. This may be an opportune moment to consider the question. Especially if youre not actually working. You may have retired. Perhaps youve just left university, considering your options. Perhaps youre taking a welcome break. Maybe…
DetailsMore than 100,000 businesses were owed money by companies and individuals that became insolvent during 2015, according to insolvency trade body R3. In total, around 113,000 businesses, the equivalent to 6% of all businesses in the UK were creditors in an insolvency procedure. Medium-sized businesses those employing 51-250 people were most likely to have been…
DetailsWhether youve been left with a debt hangover after the holidays or are still struggling to pay off the debt load youve acquired over the years, make 2016 the year you free yourself of the burden of credit card debt and loans. The new year is the perfect time to put together a debt payoff…
DetailsA photography business alleged to have taken advantage of vulnerable consumers has collapsed into voluntary administration. Lifestyle Photographers, which formally traded as Expression Sessions, appointed external managers on Monday. Dragan Ljubic from Tribeca Advisory has been appointed administrator, with the first creditors meeting due to be held on January, 14 in Parramatta, New South…
Details1/6/2016 – by World Grain Staff WINNIPEG, MANITOBA, CANADA LWP Capital Inc., formerly known as Legumex Walker, announced on Jan. 5 that it has completed liquidation of its business. The company also announced its wholly owned subsidiary has completed the divestiture of its 84% ownership interest in Pacific Coast Canola LLC (PCC) to…
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