Shares in embattled estate agent McGrath fell more than 8 per cent on Monday to a new intraday low of 43¢ after Fairfax Media reported founder John McGrath had accumulated a $16 million gambling debt with bookmakers William Hill. Mr McGrath has strenuously denied the story, calling it “ridiculous” but shares still fell sharply after opening…
Naomi Rovnick in London February 28, 2018 Prezzo, the UK casual dining chain that private equity group TPG bought for £304m in 2014, is restructuring its business with the loss of several hundred jobs in the latest sign of tough times on the British high street. The Italian-themed business will close around a third of…
Telecom operator Aircel said onWednesday it has filed for bankruptcy as the company has been facing troubled times in highly financially stressed industry. In a statement in New Delhi, Aircel said that intense competition following the disruptive entry of a new player, legal and regulatory challenges, high level of unsustainable debt and increased losses had…
Paul Jessup, 46, has been disqualified from forming a company for 12 years He was the sole director of event management firm Paragon Production Limited Jessup caused Paragon to reclaim unentitled VAT totalling £19,356 for services provided to him personally, including his own wedding reception By Thomas Burrows for MailOnline Published: 22:20 AEDT, 28 February…
British banks have been ordered to help people pay off their credit card loans, one of a series of new measures from the Financial Conduct Authority aimed at tackling the personal debt crisis. See related The new rules are designed to help customers to break the cycle of persistent debt and ensure customers who cannot…
Feb 28 (Reuters) – Aircel : * AIRCEL FILES FOR BANKRUPTCY * FILED APPLICATION FOR UNDERTAKING CORPORATE INSOLVENCY RESOLUTION PROCESS FOR AIRCEL CELLULAR, DISHNET WIRELESS AND AIRCEL LTD * ACKNOWLEDGED HAS BEEN FACING TROUBLED TIMES OWING TO INTENSE COMPETITION FOLLOWING DISRUPTIVE ENTRY OF A NEW PLAYER, LEGAL, REGULATORY CHALLENGES * REQUESTS CONTINUED SERVICES FROM SUPPLIERS…
Three years after losing the race to acquire Italys second-largest steelmaker, JSW Steel is set to make a comeback. The Sajjan Jindal-company is expected to sign a deal with Cevital to whom it had lost out in 2014 to buy Aferpi. Cevital, the largest privately-held group in Algeria, had bought Lucchini in 2014 and renamed…
The last standing fringe operator Aircel, along with its units, has filed for bankruptcy in the National Companies Law Tribunal (NCLT)-Mumbai on Wednesday. This last resort was taken when the Malaysian owned Maxis company failed to strike a truce with its lenders and shareholders. ET in its February 19 edition first reported that the Rs…
Several Bunbury businesses are hundreds of thousands of dollars out of pocket after the company in charge of work at the former Department of Parks and Wildlife headquarters site went into liquidation. A Department of Finance spokeswoman confirmed to the Bunbury Herald that civil engineering and earthworks company BCL Group has suspended trading. In the…
A QUEENSLAND owned and operated organic retailer has gone into liquidation, owing $2.8 million to more than 200 creditors. Wray Organic Pty Ltd, which operates stores under the Wray Organic banner in Toowoomba, Ipswich, and Newmarket, was established by owner Deborah Wray and her partner Gary Davis at Palm Beach on the Gold Coast in…