Tops Markets Pursuing Financial Restructuring to Reduce Debt and Strengthen Competitive Position – Business Wire (press release)

WILLIAMSVILLE, N.Y.–(BUSINESS WIRE)–Tops Markets, LLC (Tops or the Company) today announced that it is pursuing a financial restructuring in order to eliminate a substantial portion of debt from the Companys balance sheet and position Tops for long-term success. Tops stores across the Companys portfolio in Upstate New York, Northern Pennsylvania and Vermont are continuing to…

Citigroup Drove Puerto Rico Into Debt. Now It Will Profit From Privatization on the Island. – The Intercept

One of the same banks that drove the Puerto Rico Electric Power Authority, or PREPA, into the red will now be paid to help auction it off to the highest bidder. Citigroup Global Markets Inc., or Citi, will be the main investment bank consultant in the restructuring and privatization of PREPA, the Washington-appointed Fiscal Control…

Failed Sydney predictive analytics vendor Veriluma gets $660000 lifeline – CRN Australia

Creditors of capsized Sydney analytics software vendor Veriluma have accepted a $660,000 acquisition proposal from wholesale investor Canary Capital. Canary was one of several potential suitors for Verilumas two entities, Veriluma Limited and Veriluma Software. Administrators had been sizing up their rival bids to recapitalise ASX-listed Veriluma, which fell over in late 2017 after ongoing cash-flow difficulties and millions…

Britain’s Interserve exits power business as part of restructuring – Reuters

Feb 21 (Reuters) – British contractor Interserve, which is in talks with its bankers to secure funding after issuing two profit warnings last year, has decided to close its power business as part of an operational restructuring of its industrial unit. Outsourcers such as Interserve have been the focus of investor attention since competitor Carillion…

Britain’s Interserve exits power business as part of restructuring – euronews

By Esha Vaish (Reuters) British contractor Interserve <IRV.L>, which is in talks with its bankers to secure funding after issuing two profit warnings last year, has decided to close its power business as part of an operational restructuring of its industrial unit. Outsourcers such as Interserve have been the focus of investor attention since competitor…