Adelaide-based fashion retailer Australian Fashion Labels has collapsed into voluntary administration, putting 57 jobs at risk as the COVID-19 pandemic continues to put pressure on Australias retail sector. Marcus Ayres and Brett Lord of Duff and Phelps were appointed as voluntary administrators of the business on Wednesday and are now seeking a buyer or the…
When a young man walked into a payday lender in Tbilisi and took 19 people hostage on November 20, brandishing what appeared to be a rifle and hand grenades, it looked at first glance like a simple robbery. But the would-be robber, 31-year-old carpenter Levan Zurabashvili, did not ask for money. Instead, he demanded the…
By Reuters Staff 2 Min Read FILE PHOTO: Malaysia Airlines planes are seen parked at Kuala Lumpur International Airport, amid the coronavirus disease (COVID-19) outbreak in Sepang, Malaysia October 6, 2020. REUTERS/Lim Huey Teng KUALA LUMPUR (Reuters) -The parent company of Malaysia Airlines said on Thursday it was nearing the end of a debt restructuring…
China has waived some of the debt owed to it by the Democratic Republic of Congo, to help the central African country overcome the economic fallout from the coronavirus pandemic, Congo’s foreign affairs ministry said on Wednesday. The ministry did not say how much was forgiven. The deal was announced during a visit to Kinshasa…
Editorial Note: Forbes may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. If youre paying off high-interest debtespecially credit card debtyou may be familiar with debt consolidation loans. You can use a debt consolidation loan to save money, get out of debt…
NEW DELHI : Two power distribution companies of the Delhi government and Reliance Infrastructure Ltd have been asked to pay 1,864 crore of overdue electricity payments or face corporate insolvency proceedings, according to payment notices. Aravali Power Company Pvt Ltd (APCPL), a joint venture of state-owned NPTC, Haryana Power Generation Corp Ltd (HPGCL) and Indraprastha…
On December 24, 2020, the European Union (EU) and the United Kingdom (UK) unveiled a Trade and Cooperation Agreement (TCA) establishing the broad relationship between them after the end of the Brexit transition period on December 31, 2020, with a particular focus on international trade, investment, public policy, and economic partnership between EU Member States…
The novel coronavirus pandemic dealt Japan’s restaurant industry a major blow in 2020, leaving a record number of bars and eateries in financial ruin as customers stayed home and establishments closed early. A record-high 780 restaurants and bars in Japan went bankrupt in 2020, the credit research company Teikoku Databank Ltd. (TDB) announced on Jan.…
As the economic repercussions from the COVID pandemic continue to unfold, corporate bankruptcies are piling up. S&P Global Market Intelligence says US corporate bankruptcies reached their worst levels since 2010 when 900 companies declared bankruptcy. In all, 630 companies declared bankruptcy during the year. In 2019, 578 companies declared bankruptcy, while 513 declared bankruptcy in…
7 January 2021 Guy Barnett, Minister for Primary Industries and Water A new Tasmanian Farm Debt Mediation scheme will be developed to help farmers in financial stress work with their creditors. The scheme offers a structured negotiation process where a neutral and independent mediator helps farmers and lenders communicate and come to a formal agreement…