The retail landscape has been undergoing a fundamental change. With digital transformation in shopping and consumers splurging online, store and mall traffic has been hit hard. As a result, most retailers, including big-box, are struggling to compete with e-commerce channels and are being forced to trim store count to focus more on an online model.…
Considering the Jaypee fiasco, can RERA protect homebuyers when the company is undergoing insolvency proceedings? On the petition filed by IDBI bank, insolvency proceedings have commenced against Jaypee Infratech. Insolvency refers to a situation where the company is unable to repay its debt. Jaypee Infratech Ltd. is the subsidiary company of Jaypee Group which is…
BHS PENSIONS RAP Ex-racing driver who was probed by MPs over collapse of BHS now faces Pensions Regulator rap DOMINIC Chappell purchased British high street chain BHS for £1 from Sir Philip Green in 2015 just over a year before its collapse with a multi-billion pensions black hole. The 50-year-old former racing driver has been probed by…
The Advertising Standards Authority of South Africa (ASA) has undergone radical restructuring with a new acting CEO in place, major fundraising underway and various business rescue recommendations being implemented. Gail Schimmel, advertising law specialist and acting CEO of the organisation since June, says the ASA had become removed from the industry and somewhat arrogant. It…
With the news of a well-known building company facing insolvency move, Indian star cricketers MS Dhoni (former brand ambassador of the firm) and Harbhajan Singh faced flak from those who invested their money in the real estate firms projects. Reports have emerged that the process of corporate insolvency resolution, under the Insolvency and Bankruptcy Code…
The Amcor Limited (ASX: AMC) share price has edged higher today after the packaging company released its full-year results. At the time of writing Amcor?s shares are up 0.5% to $16.07, bringing their year-to-date return to almost 8%. Key takeaways from today?s result include: Sales revenue down 3.4% to US$9.1 billion. EBITDA up 2.7% to US$1,447 million (4.2% in…
Amcor has more than doubled full-year profit to $US597 million ($752 million), as acquisitions dominated a year of strategic restructuring. While the packaging giant delivered profits well beyond last year’s $US244.1 million, Amcor’s revenue from ordinary activities for the year to June 30 fell 3.4 per cent to $US9.1 billion. Profit in Amcor’s flexible packaging…
FRESH data from SV Partners has provided a shot in the arm for the Gladstone retail industry with its August report delivering promising news for the region. SV Partners, an insolvency accounting and specialist advisory firm, stated in its August 2017 Commercial Risk Outlook Report that no business in the retail trade was at current…
Businesses struggling to keep on top of the incoming bills may be surprised to learn that it is not suppliers that are the most aggressive instigator of company wind up proceedings. According to data compiled by Prushka Fast Debt Recovery, banks and other lenders also do not get a look in when it comes to…
Amcor more than doubled its annual profit to $US597 million ($A752 million) after acquisitions dominated a year of strategic restructuring. While the packaging giant delivered a profit well beyond last year’s $US244.1 million, revenue from ordinary activities for the year to June 30 fell 3.4 per cent to $US9.1 billion ($A11.5 billion). Deutsche Bank research…