Mar 13, 2024 11:45 AM IST Elon Musk wrote, “America will go bankrupt” in response to a post by a user on his social media platform X. Elon Musk expressed worry that the United States could go bankrupt soon. In a post on his social media platform X (formerly Twitter), Elon Musk wrote, “Overspending must…
Joann files for bankruptcy Joann files for bankruptcy 00:19 Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process. Hudson, Ohio-based Joann, which filed for Chapter 11 bankruptcy,…
Fashion retailer Express Inc. is reportedly considering various options, including Chapter 11 bankruptcy, as it faces increased competition in the fast-fashion space. But its struggles have been a long time in the making, retail analysts say. Express, which Bloomberg reported last week was in talks with lenders to help finance a possible bankruptcy process, has…
By Reuters Published Feb 25, 2015 SuperGroup Plc, the owner of the Superdry fashion brand, said on Wednesday its finance chief Shaun Wills had quit after being declared bankrupt two weeks ago. Wills, who is a qualified accountant, was made the subject of a personal bankruptcy order on Feb. 10, the company said, but it…
EY-Parthenon teams were appointed as insolvency administrators in March 2021. From the start, a unique aspect to this engagement was the media attention. Given the size and impact of this bankruptcy, this was a hurdle both Abengoa and EY-Parthenon had to overcome and engage with regularly throughout the process. Loan requests Initially, the EY-Parthenon teams…
The Fanatec saga of 2024 has taken yet another twist, and a turn for the worse, as the brand’s parent company has filed an application to begin insolvency proceedings. It’s been a pretty crazy few months for Fanatec and its owner Endor. While it’s likely the public troubles began with a chaotic Black Friday, things…
Croydon council has declared effective bankruptcy for the third time in two years, saying it faces an “existential question” after collapsing under the weight of a “toxic debt burden” running to more than a billion pounds. In the latest sign of the continuing financial storm raging through local government, the south London authority said it…
Kenya Revenue Authority (KRA) has been ordered to refund more than Sh54 million to household and electronics appliances supplier Hotpoint on account of bad debts arising from goods delivered to fallen retail giant Nakumatt. The Tax Appeals Tribunal faulted the Commissioner of Domestic Taxes for disallowing the VAT (value-added tax) refunds of Sh54.8 million as…
Your 20s can be a time of great financial challenge. You may be contending with a mound of student loan debt, credit card bills, car payments, and other income drains. While declaring bankruptcy in your 20s may seem like an easy way to end the nightmare of debt, it’s not a solution. In fact, it…
KUALA LUMPUR (March 1): Sapura Energy Bhd said a Mexican unit of the group has been declared bankrupt, after it had failed to restructure its debts with creditors within the stipulated time frame given by a court in that country. The unit, Sapura Energy Mexicana Sociedad Anónima Promotora de Inversión de Capital Variable (SEM), is…