A South Yorkshire steel company has avoided insolvency for the moment after a potential buyer was found, the High Court has heard. Speciality Steel UK (SSUK), part of the Liberty Steel Group founded by Sanjeev Gupta, employs 1,450 people and has plants in Rotherham and Sheffield. Lawyers representing SSUK said at a hearing on Wednesday…
Following the hearing, Jeffrey Kabel, Liberty Steel chief transformation officer, said the court’s decision was a “positive development”. The company would use the time to “finalise options, including a sale of the business” while continuing its debt restructuring plans, Mr Kabel said. “We remain committed to finding the right solution that preserves EAF [electric arc…
Builder.ai developed AI tools to streamline app and website development. (Photo: Shutterstock) London-based technology start-up Builder.ai, backed by investors including Microsoft, has entered insolvency proceedings amid significant financial challenges. This decision follows a recent restatement of its revenue, and the acknowledgment of issues related to past leadership. The company, known for its claim that its…
A court case that could have led to Liberty’s Speciality Steel business going into insolvency has been adjourned until July. Rothbiz reported on a winding-up order being due this week regarding Liberty Speciality Steel, which has operations in Rotherham and Stocksbridge.. The hearing has been adjourned to July 16, with discussions ongoing to keep the…
Michelle Elliot – Restructuring advisory partner at FRP in Glasgow The number of company insolvencies registered in Scotland saw a modest decrease in April 2025, falling by 7% compared to the same month in the previous year, with 101 cases recorded. This total comprised 47 creditors’ voluntary liquidations (CVLs), 51 compulsory liquidations, and three administrations.…
Potential buyer for South Yorkshire steel company, court hears Insider Media Ltd Read the original article here
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[LONDON] Builder.ai, the British artificial intelligence startup backed by Microsoft and the Qatar Investment Authority, is filing for bankruptcy after the chief executive officer said a major creditor had seized most of its cash. Viola Credit, which provided US$50 million in debt to the software firm last year, has seized US$37 million from Builder.ai’s accounts,…
Aakash Educational Services Ltd, the coaching institute acquired by Byju’s in 2021, has asked audit firm EY to disclose all documents and communication in relation to transactions involving the company. In a statement on Wednesday, Aakash said it would proceed with legal action if EY did not provide the requisite information, and alleged that the…
WeightWatchers goes bankrupt, as offering GLP-1 drugs couldn’t cure its debt problems MarketWatch Read the original article here