SSENSE is filing for bankruptcy protection, according to a letter written by CEO Rami Attallah to employees on Thursday, per Business of Fashion. In the email, the Montreal-based company’s chief executive stated that SSENSE’s lenders aim to sell the company under the Companies’ Creditors Arrangement Act (a Canadian federal statute that allows large companies to…
Designer fashion retailer Ssense faces a liquidity crisis and plans to imminently file an application in bankruptcy court to protect its assets from indebted lenders, The Logic has learned. In an email sent to all staff this morning, the Montreal-based firm said its hand was forced by its main creditor, which it says filed its…
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Bollywood actor Salman Khan has approached appellate tribunal National Company Law Appellate Tribunal, challenging an National Company Law Tribunal, order which had dismissed his plea to initiate insolvency proceedings against Jerai Fitness towards an unpaid amount of Rs 7.24 crore. This dispute is related to ‘BEING STRONG’, a fitness equipment brand founded by Salman Khan,…
KUALA LUMPUR: In a startling revelation during the ongoing trial in the Penang undersea tunnel corruption trial, businessman Datuk Seri G. Gnanaraja admitted to being declared bankrupt after failing to pay his legal fees in a separate case at the Shah Alam Court. During cross-examination with counsel Ram Karpal Singh, Gnanaraja admitted to being declared…
Become a Vogue Business Member to receive unlimited access to Member-only reporting and insights, our Beauty and TikTok Trend Trackers, Member-only newsletters and exclusive event invitations. Canadian retailer and indie fashion favourite Ssense has filed for bankruptcy protection, the company said on Thursday. The company is filing an application with Canada’s Companies’ Creditors Arrangement Act,…
Ssense is filing for bankruptcy protection after what it described as an attempt by lenders to force a sale of the company, the Montreal-based e-tailer told employees in a letter reviewed by The Business of Fashion. Chief executive Rami Atallah on Thursday said Ssense’s creditors want to put it up for sale under the Companies’…
Become a Vogue Business Member to receive unlimited access to Member-only reporting and insights, our Beauty and TikTok Trend Trackers, Member-only newsletters and exclusive event invitations. Canadian retailer and indie fashion favourite Ssense has filed for bankruptcy protection, the company said on Thursday. The company is filing an application with Canada’s Companies’ Creditors Arrangement Act,…
Papua New Guinea’s only electricity provider is insolvent and more than $1.5 billion in debt, as insiders describe the situation as “hopeless” and “untenable”. PNG Power is the national electricity company in Papua New Guinea, a country where fewer than one in five people have access to mains power. The government-owned company was set up…
KUALA LUMPUR (Aug 28): The defence in Lim Guan Eng’s Penang undersea tunnel case attacked the credibility of key witness Datuk Seri G Gnanaraja in court on Thursday. At the Sessions Court, lawyer Ramkarpal Singh highlighted that Gnanaraja is bankrupt, quizzing the businessman for owing his former lawyers Messrs Dennis Nik & Wong more than…