The Supreme Court hearing, led by Justice Hamdi, confirmed the verdict by the Semarang Commercial Court on Monday, October 21, 2024, which had declared Sritex bankrupt. The court deemed Sritex failed to fulfill its debt obligations to PT Indo Bharat Rayon (IBR), one of its creditors, as stipulated in the homologation agreement on Tuesday, January…
Canoo, once a promising startup with a unique electric vehicle and orders from the likes of the U.S. Postal Service and the Department of Defense, has filed for bankruptcy and ceased all operations. The company announced it filed for Chapter 7 bankruptcy on Jan. 17 in a court in Delaware. This will result in a…
Image credit: Lilium German eVTOL developer Lilium is facing another financial crisis as the company struggles to secure a critical funding package that was expected to stabilise its operations. After announcing a €200 million rescue deal on Christmas Eve, Lilium has so far received only a fraction of the promised funds, leaving it unable to…
Pierer Industrie AG avoids insolvency, decision on KTM imminent MSN Read the original article here
Family Metal Foundry Saves a Business The KTM Insolvency Nearly Killed MSN Read the original article here
Lilium Aerospace has filed for insolvency again after promised funding options to secure the company’s future failed to materialize. A statement from the company confirmed that operations were ceasing. It said, “While talks about alternative solutions are still ongoing, the chance for restructuring right now is highly unlikely. “Giving the situation, this is deeply regretful for…
Lilium Closes eVTOL Business As New Investment Falls Through Aviation International News Read the original article here
Major clothing retailer to close 23 stores after going into administration MSN Read the original article here
After 42 successful years, Hooters may be on the brink of bankruptcy. This comes after a period of financial difficulty in which Hooters of America was in talks with advisors and money-lenders to address loss in revenue and foot traffic. Since the chain was bought by Nord Bay Capital and TriArtisan Capital Advisors in 2019,…
An American EV manufacturer famous for fake announcements that put its boss in jail has declared bankruptcy. Nikola, a truck manufacturer spruiking battery and hydrogen-powered alternatives to the Tesla Semi, is the latest manufacturer to declare an end to its production run. It follows failures for fellow US brands Fisker, Canoo and Faraday Future that…