NEW YORK (AP) — Just months after filing for bankruptcy, SmileDirectClub announced it was shutting down its global operations and halting its teeth-aligner treatments. That leaves existing SmileDirectClub customers with a lot of questions and few available answers. The company is offering no more customer care support and few details about possible refunds are available…
The 3rd largest economy in terms of GDP is on the brink of bankruptcy with a colossal debt (274%) and a freely falling currency. If the trend continues, the problems will be terrible for the entire world. The Yen in Free Fall The Japanese currency is not yet in free fall, but it could well…
Track record of insolvency – implications for licensing A recent decision of the Tribunal, affirming a licensing decision under the Home Building Act 1989 (HB Act) of the regulator to refuse an application to renew a qualified supervisor certificate, reveals the keen focus of the regulator on using its licensing powers to clean up the…
Chinese Company That Sparked Fears of Financial Contagion Falls Into Bankruptcy The Wall Street Journal Read the original article here
International bus and coach manufacturing giant Van Hool is hoping for a “rapid restart” after reaching a binding offer with other brands to rescue it from bankruptcy. On April 8, Van Hool was declared bankrupt, with the major global manufacturer facing permanent closure. Now, a board of four curators, including coach and bus group VDL…
Merlino said patronage at his other venues – Kittyhawk, Big Poppa’s and The Lobo – remained at similar levels to last year, but people were spending less. However, he said the cost of energy and insurance was “through the roof”, while wages, food and alcohol continued to rise. “I think there is trepidation with winter…
Getty Images Zhongzhi lent billions to China’s crisis-hit property developers A major Chinese shadow bank has filed for bankruptcy on the grounds it was unable to pay its debts. On Friday, a Beijing court accepted the application from Zhongzhi Enterprise Group (ZEG), which has lent billions to real estate firms. Chinese officials launched an investigation…
Express Inc., the clothing retailer that’s a staple in US malls, filed for bankruptcy with plans to sell itself. The company received an offer from brand manager WHP Global and mall landlords Simon Property Group Inc. and Brookfield Properties to purchase the company’s operations and most of its stores, according to a statementBloomberg Terminal on…
Esprit Europe GmbH and six other German companies of the fashion group will file for insolvency under self-administration on Wednesday, the company said, as Hong Kong-listed apparel group Esprit Holdings seeks to restructure its European business. This is the second insolvency procedure within four years for Esprit, which had laid off around a third of…
Stay informed with free updates Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox. Zhongzhi, the conglomerate at the centre of China’s $3tn shadow banking market, has filed for bankruptcy, saying that it was “severely insolvent”. A Beijing court accepted a bankruptcy and liquidation application from Zhongzhi…