A closure of the entire business, which is planned pending a court appearance set for Monday, would mean job losses for 9,364 employees the company has in Canada across its Hudson’s Bay stores, as well as three Saks Fifth Avenue stores and 13 Saks Off 5th locations it owns through a licensing agreement. Read the…
Rosmerta Digital Services Pvt. Ltd. has sought the initiation of insolvency proceedings against a wholly owned subsidiary of Ola Electric Mobility Ltd. The operational creditor of Ola Electric Technologies Pvt. Ltd. has filed a petition the National Company Law Tribunal in Bengaluru alleging default in payments towards the services rendered, according to an exchange filing…
Hudson’s Bay to liquidate entire business, still seeking additional capital MSN Read the original article here
Rosmerta Digital Services Ltd has filed an insolvency petition against Ola Electric Mobility’s subsidiary Ola Electric Technologies before the National Company Law Tribunal (NCLT), alleging that the electric two-wheeler maker has defaulted on payments for the services provided. “We wish to inform you that a petition has been filed under Section 9 of the Insolvency…
An insolvency tsunami has swept through Australia, putting the country on track to record decade-high numbers of collapsed businesses by the end of the financial year. While building and food services companies are at the forefront of the surge, few sectors have been spared, representing a soft underbelly to the country’s otherwise resilient economy. Why…
Despite holding out hope it can avoid a full shutdown, Hudson’s Bay says it is planning an “immediate” liquidation that would begin next week and wrap up in June. The company said it remains optimistic it can drum up capital and find a solution with key stakeholders, particularly its landlord partners, to avoid a full…
SpiceJet is facing fresh round of troubles as three Ireland-based aircraft lessors and a former pilot have filed insolvency pleas in NCLT against the budget carrier, claiming defaults. Three lessors – NGF Alpha, NGF Genesis and NGF Charlie- have filed petitions under Section 9 of IBC, seeking initiation of insolvency proceedings against SpiceJet claiming dues…
Restructuring and Insolvency Newsletter: February 2025 updates Único – o portal de notícias do Mattos Filho Read the original article here
Updated Mar 15, 2025 21:12 IST Ola Electric insovency proceedings: Rosmerta Digital Services has filed an insolvency petition against Ola Electric Technologies before the National Company Law Tribunal (NCLT). Bhavish Aggarwal-led Ola Electric Mobility Ltd, today, informed that Rosmerta Digital Services has filed an insolvency petition against its wholly owned subsidiary Ola Electric Technologies before…
Unless it finds a more viable path forward, it appears an iconic Canadian retailer will be permanently closing its doors. Hudson’s Bay announced late Friday night it will begin liquidating its entire business as soon as next week, putting more than nine-thousand jobs at risk. The department store chain, that dates back to 1670, says…