The euro zone needs more risk sharing in the financial sector to accelerate economic growth, the head of the euro zone bailout fund Klaus Regling said on Monday in remarks that are likely to face strong opposition in his native Germany. Regling said financial integration, on the rise since the euro was created in 1999,…
Discount shoe chain Payless Shoes has entered voluntary administration for the second time in three years. Administrators Ferrier Hodgson say the reason for the problems at the 36-year-old Australian independent retailer is not yet clear and it will continue to trade as usual as they seek potential buyers. Payless Shoes, which has 870 employees working…
BELEAGURED WA One Nation Senator Rod Culleton is in more hot water with Queensland Police to investigate an alleged threatening letter he wrote to a magistrate. Queensland Attorney-General Yvette DAth yesterday released a statement saying she had referred the letter Senator Culleton wrote to the magistrate at Cairns Magistrates Court to the Queensland Police Commissioner.…
New Delhi: The corporate affairs ministry on Monday evening issued final rules for registering and regulating insolvency professional agencies, which will be critical cogs in the introduction of Indias bankruptcy code. The Insolvency and Bankruptcy Code, 2016, passed by Parliament in May, aims to improve the ease of doing business in India by facilitating smoother…
Payless Shoes Store. DISCOUNT shoe chain Payless Shoes has entered voluntary administration for the second time in three years. Administrators Ferrier Hodgson say the reason for the problems at the 36-year-old Australian independent retailer is not yet clear and it will continue to trade as usual as they seek potential buyers. Payless Shoes, which has…
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CLOSE to 1600 Pumpkin Patch workers will be out of a job by early next year after a buyer failed to emerge for the loss-making kids fashion brand. In a bleak day for the retail sector, discount shoe store Payless Shoes also announced it had entered voluntary administration, putting 870 jobs across 131 stores as…
Shoe retail chain Payless Shoes has collapsed into voluntary administration but its stores are continuing to trade on a business as usual basis. Payless Shoes was established in 1980 and survived a previous voluntary administration three years ago. However, the 131-store chain is once again in financial trouble. Voluntary administrators from Ferrier Hodgson were appointed…
In late 2005, Andrew Binetter, the then chief executive of Australian juice business Nudie, described to officers working at Israel Discount Bank (IDB) how the family venture had taken off. Binetter, who was a co-founder and appointed CEO of Nudie in 2005, told the bank: “We are getting a lot of good financial press in the Australian business media.” Nudie juice was…
Discount shoe chain Payless Shoes has entered voluntary administration for the second time in three years. Administrators Ferrier Hodgson say the reason for the problems at the 36-year-old Australian independent retailer is not yet clear and it will continue to trade as usual as they seek potential buyers. Payless Shoes, which has 870 employees working…