In Ernest Hemingway’s first novel, The Sun Also Rises, one of the characters is asked how he went bankrupt. “Two ways. Gradually, then suddenly.” Nearly 100 years later these lines still ring true. Bankruptcy — whether financial, moral or political — tends to happen gradually until it happens suddenly. The moral bankruptcy of the Republican…
Based out of Amsterdam, Wizenoze, a developer of an online education platform, has been declared bankrupt by the court in Amsterdam on 23-12-2024. Lack of funding, generative AI, and more According to co-founder Diane Janknegt, Wizenoze was doing well and needed funding for product development. They secured an agreement with an investor, but when they…
The supplier of Mercedes-Benz branded “stars” has declared bankruptcy. The German company Gerhardi Kunststofftechnik GmbH failed to cope with the challenges faced by the modern European automotive industry due to the fall in demand for electric vehicles. The company, founded in 1796, survived two world wars but went bankrupt in 2024. This was reported by…
ISLAMABAD: A cabinet body on Tuesday refused to declare Shalimar Recording and Broadcasting Company as strategic, directing the Ministry of Information to find its own path to protect the company from becoming insolvent. The Cabinet Committee on State-Owned Enterprises (CCoSOEs) discussed the Ministry of Information’s proposal to authorise Shalimar Recording and Broadcasting Company (SRBC) to…
Lilium, once a darling in the nascent industry of electric aircraft that raised more than $1 billion before going public, has ceased operations and laid off about 1,000 workers after efforts to gain financing and exit insolvency failed. Update: Lilium might be saved after all. The company said in a Dec. 24 announcement that a…
Lilium manufactures aircraft like this. (archive picture) Keystone The insolvent electric aircraft pioneer Lilium from Germany has found an investor and intends to continue its business. A consortium of investors has signed a purchase agreement for the assets of Lilium’s subsidiaries. As the start-up company announced on Christmas Eve, the consortium is called Mobile Uplift…
A consortium of investors has resurrected Lilium just days after the electric air taxi startup ceased operations and laid off about 1,000 employees. Mobile Uplift Corporation, a company set up by investors from Europe and North America, has agreed to acquire the operating assets of the startup’s two subsidiaries, Lilium GmbH and Lilium eAircraft GmbH,…
The Ministry of Manpower noted that 60 textile companies may soon go bankrupt after being severely hit by financial problems since 2023 and due to the issuance of import regulations. Immanuel Ebenezer, Deputy Minister of Manpower, accused the issuance of the Minister of Trade Regulation (Permendag) No. 8/2024 as the main cause of the collapse…
One of the company’s hotels, Photo: Shutterstock 24.12.2024. 15:02h The Court of Appeal rejected the appeal of the NGO “Vektra Boka” Workers’ Association after finding that it was illegal, thereby confirming the Commercial Court’s ruling from November – that the company “Vektra Boka” should not be declared bankrupt. This is written in the decision made…
10 reasons Tesla will go bankrupt MSN Read the original article here