PacSun, the Anaheim-based surfwear brand, has hired financial advisers to help with its $160 million debt, payable at the end of the year, according to The Wall Street Journal. The troubled brand is working with Washington, D.C.-based restructuring firm FTI Consulting Inc. and New York-based investment bank Guggenheim Securities. In 2011, PacSun received a $100…
International finance of ocean-going vessels and other maritime assets such as off-shore oil and gas equipment is currently experiencing what could be described as a perfect storm: Many owners looking to refinance newer assets in their fleet ordered their construction and locked into efficient funding before the global financial crisis of 2007/8. And according to…
Melbourne-based maker of antipasto products Pronto e Fresco entered voluntary administration on Wednesday and is up for sale. Smart Company reports that the 100 per cent Australian-owned company, which was established in 2000, produces vegetable products including semi-dried tomatoes, roasted peppers, grilled mushrooms, grilled eggplant, grilled pumpkin and other unique char-grilled and marinated vegetables. Pronto…
Tallahassee teens will deliver clean water to Flint Subscribe today for full access on your desktop, tablet, and mobile device. Subscribe Now Share This Story! Let friends in your social network know what you are reading about Tallahassee teens will deliver clean water to Flint High-schoolers aim to help Flint residents by collecting cases of…
The National Assembly Finance Committee on Friday unanimously approved the draft of the Corporate Restructuring Companies Bill, 2016. Member National Assembly Qaiser Ahmad Sheikh chaired the meeting. The bill is aimed at establishing a new business regime under which corporate restructuring companies are to be incorporated, licensed and regulated by the SECP to perform the…
Mental health and debt problems: ‘A marriage made in hell’ Hugh Pym Health editor 4 March 2016 From the section Health Much has been written about the easy availability of debt at a time of record low interest rates. The latest data showed that consumer credit was growing at the fastest pace in a decade.…
Ex-RTÉ star, Sarah Newman, was due to be questioned about Irish debts UK bankruptcy means temporary stop to Irish accounts being checked Former dot.com millionaire and then partner agreed to pay £7.4m in 2011 Allied Irish Banks now claim she still owes them more than £4.6million By Paul Caffrey For Irish Daily Mail Published: 01:47…
Abengoa SAs majority shareholder sweetened its offer to creditors in talks aimed at avoiding bankruptcy, agreeing to further reduce its stake in the Spanish renewable-energy developer, according to three people familiar with the matter. Inversion Corporativa IC SA, controlled by the family of Abengoas founder Javier Benjumea, told creditors it would cut its holding to 5 percent…
Related Story: ASIC begins proceedings against ANZ for alleged rate fixing Two high-profile Darwin developers Kerry and Dean Osborne have been declared bankrupt after a legal stoush with another Top End business tycoon. Centroid and Trepang Services, two companies associated with developer John “Foxy” Robinson, took Osborne Family Holdings to court…
Media captionBarclays chief executive Jes Staley says the restructured bank will be simpler Barclays shares closed down 7% after reporting a drop in full-year profits, a dividend cut and a restructuring including reducing its stake in Africa. Underlying annual profits for 2015 fell 2% to £5.4bn. The bank said it would cut its dividend by…