Going into administration means there is no guarantee workers will receive their entitlements at all, or that suppliers will have their invoices paid. The employee, who asked not to be named, said the restaurant had about 35 casual staff and 13 full-time workers, including some who the company had sponsored on work visas. A spokeswoman…
The battleground for Binani Cement Ltd.s insolvency process has shifted back to the National Company Law Tribunal, Kolkata. Last week, Binani Industries Ltd. withdrew its petition seeking termination of the insolvency process for its debt-ridden cement unit that would have allowed an out-of-court settlement with UltraTech Cement Ltd. At the hearing before the Kolkata bench…
WILMINGTON, Del./NEW YORK (Reuters) – Bon-Ton Stores Inc, a bankrupt chain of 200 regional department stores, will go out of business after the only bidders competing at the Monday start of its court-supervised auction were liquidators, two sources familiar with the matter told Reuters. Bon-Ton had been working with U.S. mall owners Namdar Realty Group…