Tesla Automation GmbH, a subsidiary of Tesla Inc. TSLA, has reached an agreement to purchase assets from the German technology company Manz AG. According to the press release issued on Tuesday, the deal involves acquiring Manz’s Reutlingen facility along with over 300 employees working there. Tesla Automation plans to manage this new location moving forward.…
Tesla Automation GmbH, a subsidiary of U.S. electric vehicle giant Tesla Inc., has signed a deal to acquire key assets of insolvent German automation systems supplier Manz AG. The Local Court of Stuttgart opened insolvency proceedings about the assets of Manz AG on Monday. The Tesla Automation agreement: As per the purchase agreement, Tesla Automation…
Tesla CEO Elon Musk has warned that California is at risk of going bankrupt if significant changes aren’t made. In a post on X (formerly known as Twitter), Musk emphasized the urgency of the situation, stating, “Crucial or California will go bankrupt.”The tech billionaire quoted an X user’s post that read “We need @DOGE California.…
Motorbike Maker KTM’s Creditors Take 70% Hit in Restructuring MSN Read the original article here
I don’t know if you’ve heard, but KTM is in some serious trouble. Aside from layoffs, insolvency hearings, MotoGP development pauses, and a culling of the board, it really hasn’t sold all that many motorcycles over the last year. How many hasn’t it sold you ask? How does a year’s worth sound? Or to put…
Administrators KPMG placed Beston Global Food into liquidation on Monday, having failed to find a buyer for the beleaguered dairy business which collapsed late last year. KPMG was appointed administrator in September after a divestment of its meat processing subsidiary failed to prop the company up. At the time, the company said it had received…
Flying Taxi Startup Faces Insolvency – Again IoT World Today Read the original article here
New York CNN — Joann, the fabrics and crafts retailer, has filed for bankruptcy for a second time within a year and announced that it’s seeking a sale. The 82-year-old retailer said in statement Wednesday that sluggish sales and inventory issues forced Joann to file for Chapter 11 again. Joann first filed for bankruptcy in…
Pan Brothers Closes In on $537 Million Debt Restructuring Bloomberg Read the original article here
Repeat offender Leslie Crossland again breached the rules of his director disqualification by managing two companies when he was not allowed to do so He also committed a bankruptcy offence in 2020 during the course of interviews with Insolvency Service officials Crossland was assisted in breaking his director ban by his son, Richard Crossland, who…