Wirecard filed for insolvency after the once high-flying payments group revealed a multiyear fraud that led to the arrest of its former chief executive. In a remarkable collapse of a company once regarded as a European tech champion, Wirecard said in a statement on Thursday morning that it faced impending insolvency and over-indebtedness. The first…
An illuminated logo sits on the exterior of Wirecard’s headquarters in the Aschheim district of Munich, Germany. Michaela Handrek-Rehle | Bloomberg | Getty Images Wirecard will file for an application to open insolvency proceedings with the district court of Munich, the company said Thursday. The company said in a short statement that management had decided…
Battered German fintech company Wirecard AG has filed for insolvency proceedings, days after revealing that more than $2 billion in cash missing from its balance sheet probably didnt exist. The move is the latest in a startlingly swift unwind for a company that until recently was a shining star in Europes tech scene. Wirecard is…
German payments giant Wirecard has filed for insolvency in the midst of a major accounting scandal linked to a 1.9bn (1.7bn) hole in its finances. The development comes just days after its former chief executive Markus Braun was arrested on suspicion of falsifying accounts at the company, which processes tens of billions of euros in…
Pop up Kitchen Limited was incorporated in June 2015 and Alan Vinnicombe (65) was appointed a director at the same time. The company traded as a consultancy for the catering industry before taking over the licence and management of the kitchen at the Blue Ball Inn in Exeter. By October 2018, however, Pop Up Kitchen…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 72 bankruptcies in week 24. This is 18 up on the previous week. In addition, 12 sole proprietorships were declared…
Crashing crude oil prices this year have wrecked the finances of most oil and gas companies. Some have experienced such financial hardship that they’ve had to declare bankruptcy. The longer oil prices remain lower, the more this list is likely to grow. Investors need to brace themselves for more turbulence ahead in the sector. Several…
Shares of Wins Finance Holdings Inc. WINS, +118.71% ran up 92% in midday trading Wednesday, after the Beijing-based investment and asset management company said it believes it can “cure” its noncompliance with Nasdaq listing requirements with the recent addition to its board. The company disclosed late Tuesday that it had been notified by Nasdaq that…
Shares of Wins Finance Holdings Inc. WINS, +133.46% ran up 92% in midday trading Wednesday, after the Beijing-based investment and asset management company said it believes it can “cure” its noncompliance with Nasdaq listing requirements with the recent addition to its board. The company disclosed late Tuesday that it had been notified by Nasdaq that…
We live in a world where fintech apps have made stock trading ever easier, cheaper and more accessible. Take Robinhood, a mobile brokerage worth $8.43 billion, that has amassed over 13 million users since its inception in 2013. Beyond making it simple to sign up and zero stock trading commissions, Robinhoods success comes from gamifying…