In March of 2024, JoAnn Fabrics filed for bankruptcy, just to come out of it a month later as a private company. When the company emerged from bankruptcy the first time, it announced that it would be closing some underperforming stores across America. According to TheStreet, JoAnn Fabrics has around 800 locations left in America,…
Three Russian companies founded by Alexander Lyskovsky, including LLC “Gorodskie Teplytsy,” LLC “Gorodskie Teplytsy Moskva,” and LLC “Vertikalnye Fermy,” have announced plans to file for bankruptcy. According to investor Mikhail Taver, Lyskovsky failed to fulfill his duties as CEO and refused to…
A caravan park billionaire who claims he was forced into bankruptcy by a drugs cartel is at the centre of a new legal row over his properties. Bob Bull, 47, whose estimated fortune of £1.9 billion took him to #88 on the Sunday Times Rich List in 2023, once boasted 12 supercars and shared a…
Following Nordica’s bankruptcy filing, the airline and its associated companies announced the dismissal of 272 staff members. Severance payments have been made to one-third of these, while bankruptcy compensation – such as unpaid wages, vacation pay, and others – can only be paid out by the Unemployment Insurance Fund (Töötukassa) after the companies’ bankruptcies are…
Wood Markets News Effort to Find Buyers for Insolvent Ziegler Group Moves Forward International Markets Posted on January 15, 2025 An internal letter from the provisional insolvency administrator, reviewed by BR24 (1-7-25), indicates that the search for investors for segments of the insolvent Ziegler Group, headquartered in Bavaria, Germany, is nearing its initial conclusions. In…
Wiltshire company directors struggling to repay Covid business loans are in danger of disqualification. The warning has come from Mike Pavitt, council member for the Southern and Thames Valley region of R3, the UK’s insolvency and restructuring trade body. Mr Pavitt said: “Covid-related loan repayment difficulties have not gone away, especially with new tax burdens…
Belgian cryptocurrency trading platform Bit4You has announced the suspension of operations after it discovered that CoinLoan, one of its service providers, was declared insolvent by an Estonian court. The CoinLoan Insolvency The cryptocurrency trading platform learned… Belgian cryptocurrency trading platform Bit4You has announced the suspension of operations after it discovered that CoinLoan, one of its…
The warning has come from Mike Pavitt, council member for the Southern and Thames Valley region of R3, the UK’s insolvency and restructuring trade body. Mr Pavitt said: “Covid-related loan repayment difficulties have not gone away, especially with new tax burdens anticipated in the spring, and nor, it seems, has the Insolvency Service’s appetite for…
The warning has come from Mike Pavitt, council member for the Southern and Thames Valley region of R3, the UK’s insolvency and restructuring trade body. Mr Pavitt said: “Covid-related loan repayment difficulties have not gone away, especially with new tax burdens anticipated in the spring, and nor, it seems, has the Insolvency Service’s appetite for…
The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea to stay the insolvency proceedings against debt-ridden thermal power producer Indrajit Power. The appellate tribunal said “no error has been committed” by the National Company Law Tribunal (NCLT), while admitting the plea to initiate insolvency proceedings against the Maharashtra-based company on February 1, 2024,…