LV= General Insurance has revealed that around 600 jobs of the 4,300 roles in the company will be impacted by the restructuring plans to reshape its business over the next two and half years. The changes are aimed at providing the company with more operational efficiency and to position it for the future. The UK-based…
The Bank of Thailand is considering adding a haircut method to the third phase of debt relief measures to help borrowers reeling from lower income caused by the virus crisis. The regulator has discussed an additional debt relief instrument with financial institutions to respond to the actual requirements of borrowers on a case-by-case basis for…
The Gym Hub, in Worthing’s Guildbourne Centre, has been sold as a ‘going concern’ following the collapse of Adur Community Leisure Ltd (ACL). Both The Gym Hub and ACL, which included Lancing Manor Leisure Centre, Wadurs Community Pool in Shoreham and Southwick Leisure Centre, are owned by Impulse Leisure. In an email to customers, the…
Image copyright Getty ImagesImage caption Those working in the events industry face an uncertain future A wave of “zombie companies” kept afloat during lockdown are on a cliff-edge going into the autumn, experts say. Analysis by the BBC shows a surge of firms went bust in March, then the rate slowed in the first few…
With the number of consumers in hardship soaring as hundreds of thousands of people put their mortgage payments on hold, the bank said its action was aimed at protecting customers from potentially ending up in a worse situation. NAB’s group executive for personal banking, Rachel Slade, said customers were in vulnerable situations due to the…
AUSTRALIAN country clothing and accessories Bullzye could be making a comeback. The company went into liquidation in March, with all five physical Queensland stores closing soon after. There were stores in Rockhampton, Townsville, Bundaberg, Toowoomba and Mackay, plus a warehouse in Murrarie for online orders. Bullzye Australian Co. store in Mackay. Picture: Tony Martin READ…
Longstanding Canberra retail businesses, Bags To Go, has entered voluntary administration, as its administrators predict further companies could follow the same route as the government prepares to reduce JobKeeper payments. Bags To Go, along with its affiliated stores Travelite and Trend Bags, entered voluntary administration on July 24. The stores had been trading in the…
The act will make substantial changes to Singapores corporate insolvency laws in particular, while retaining most existing personal insolvency provisions. It sets out common principles and aligns procedures across the previous regimes under a single law, rationalising existing inconsistencies and minimising uncertainty that has previously existed due to cross-referencing across the various pieces of legislation.…
Remington Arms, the nation’s oldest gunmaker, has declared bankruptcy for the second time in as many years. Remington first soughtbankruptcy protection in 2018after reporting nearly $1 billion in debt. Although the company exited court supervision that same year, it remained weighed down by lawsuits and retail sales restrictions following the2012 Sandy Hook school massacre. The…
With the number of consumers in hardship soaring as hundreds of thousands of people put their mortgage payments on hold, the bank said its action was aimed at protecting customers from potentially ending up in a worse situation. NAB’s group executive for personal banking, Rachel Slade, said customers were in vulnerable situations due to the…