Carpetright has warned its full-year loss will be double those previously expected, as the struggling retailer received backing from creditors and shareholders for a restructuring process designed to stave off administration. Britains biggest carpet retailer now expects to make an underlying pretax loss of £7m to £9m for the year to the end of April,…
* Pretax loss of 244.4 mln stg as restructuring charges weigh * Shares fall more than 20 pct * Expects restructuring gains by 2020 (Adds detail, background) April 30 (Reuters) – Britains Interserve Plc reported a deeper annual pretax loss on Monday, sending its shares 20 percent lower, as CEO Debbie White leads a turnaround…
A PERTH-based events management company is closing down, with claims it owes artists close to $200,000. JumpClimb, which is an independent presenter of events at Perths Fringe World festival, is tipped to enter voluntary administration. A statement on the JumpClimb website said: A combination of factors including a downturn in ticket sales on recent projects, debtors…
The Resolution Professional (RP) for Adhunik Metaliks Ltd will present a detailed report before the Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday seeking suitable directions with regards to the insolvency proceedings of the company. The 270-day deadline granted to the bankrupt company under the corporate insolvency resolution process (CIRP) expired on…
Labour has pledged to help people caught in a “debt trap” by placing a cap on the total amount that can be paid in overdraft fees or interest payments. Labour claims it could help an estimated 2.7 million people who it says are stuck with permanent overdrafts, saving them the equivalent of £86 each per year. Shadow…
A few years ago you finished high school and diligently headed straight to university where you took advantage of the Higher Education Loan Program (HELP). Once uni was over, you took a job and worked hard for a few years, but the lure of overseas work called. Or perhaps, you were an apprentice and took…
A few years ago you finished high school and diligently headed straight to university where you took advantage of the Higher Education Loan Program (HELP). Once uni was over, you took a job and worked hard for a few years, but the lure of overseas work called. Or perhaps, you were an apprentice and took…
Christo Wieses dramatic R59bn claim against Steinhoff will give him a seat at the table when the restructuring of the ailing group is negotiated. Ironically, the transactions that form the basis of Wieses legal claim were severely criticised at the time because of potential conflicts of interest that favoured him over other Steinhoff shareholders. Experts…
The nation’s biggest mortgage lenders are boosting controls over brokers amid growing regulatory and political pressure to tighten commission payments, boost transparency and responsibility to borrowers. Bankwest, which is owned by Commonwealth Bank of Australia, the nation’s largest lender, is reducing long-term trailing commissions, reintroducing a first-year commission and tightening payments on other commissions. Ian…