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Florida homeowners face property liens after major roofing group collapses into “insolvency” | Investigations

NAPLES, Fla. (WINK) — Dozens of Southwest Florida homeowners are facing a double blow of unfinished construction and mounting debt after the sudden financial collapse of Kelly Roofing, a long-standing Collier County contractor.  The collapse has left customers dealing with bounced refund checks for paid deposits, abandoned job sites in the middle of peak hurricane…

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Selling off public assets only offers temporary relief to debt crisis, says World Bank

World Bank has criticised the government’s strategy of off-loading lucrative public assets.[Courtesy] The World Bank has criticised the government’s strategy of off-loading lucrative public assets, warning that selling these prized businesses only offers short-term relief to the country’s debt crisis. The Bretton Woods institution argues that since the revenue streaming in from the divestiture and…

Parent company of Lapierre and Raleigh initiates insolvency proceedings, putting major brands at risk

Dutch bicycle conglomerate Accell, which owns a number of well-known brands, has been granted a suspension of payments, thereby beginning insolvency proceedings. While the company describe themselves as “Europe’s market leader in e-bikes and second largest in bicycle parts and accessories”, they own French race bike manufacturer Lapierre, which provides bikes to men’s and women’s…