Hudson’s Bay Company illegally slashes workers’ commissions during liquidation

Bankruptcy

TORONTO—Unifor is calling out Hudson’s Bay Company (HBC) for unilaterally slashing workers’ commission pay during its retail liquidation—a move that violates collective agreements and reduces workers’ income as they prepare for mass termination. The union has been informed that commission-based pay will be eliminated as of April 20 for members working in cosmetics departments, as…

Revealed: 11 ISG firms went into liquidation

Liquidation

Eleven firms in the ISG family – including the UK holding company – entered liquidation rather than appointing administrators, Construction News can reveal. In September, accountancy firm EY was appointed as the administrator for eight of ISG’s most well-known companies after the £2.2bn-turnover firm’s collapse that month. New analysis by CN shows that during the two…

Debt help arrives in Lockerbie

Debt Help

A NEW service has been rolled out to Lockerbie offering help to anyone in the area battling with debt issues. THE CAP debt help team launched their free service earlier this year, initially serving Dumfries. But they have now opened it up to those in the DG11 postcode who are in dire financial straits. Paula…

Shivinder Singh, ex-promoter of Ranbaxy and Fortis, files for personal insolvency as billionaire heir’s fall from grace deepens

Bankruptcy

However, the Singh brothers surprised everyone when they sold their stake in Ranbaxy at its greatest ebb to Japanese drugmaker Daiichi Sankyo in 2008 for $4.6 billion (approximately ₹59,700 crore today), ensuing much media attention, especially for the price that it fetched.  They then used the proceeds from the sale to aggressively expand Fortis Healthcare.…