Twelve more trucking companies filed for Chapter 11 bankruptcy in October, highlighting the embattled transportation finance sector. These freight carriers filed for Chapter 11 last month, according to U.S. Bankruptcy Court documents obtained by Equipment Finance News: G1 Transport filed Oct. 3 in the Northern District of Georgia; GEC Transport Solutions filed Oct. 6 in the Southern District of Texas; Hadnot Logistics filed…
Faarea Masud,Business reporter and Danielle Kaye,Business reporter Getty Images Guests across the world have been told to leave their accommodation mid-holiday after property rentals firm Sonder suddenly went bankrupt. The collapse came after hotel chain Marriott terminated its leasing agreement with Sonder, a year after the partnership had been established. It allowed Sonder rooms to…
German court rejects shareholders’ bid for more of Wirecard insolvency spoils Reuters Read the original article here
When consumers learn a business is filing for bankruptcy protection, often the first image that comes to their minds is a company in financial distress. Economic problems are not the only reason businesses need to file for bankruptcy, as the automatic stay provision of bankruptcy can help a company facing litigation to fend off legal…
Sonder rooms can no longer be booked via the Marriott site and app. Marriott said it was helping people who booked via its own platforms but was advising those who booked via a third party to ask for a refund via their credit card issuer. “Sonder has faced severe financial constraints arising from, among other…
The Manipal Group on Thursday confirmed that it has submitted a bid to acquire Think & Learn Pvt. Ltd., the parent company of the bankrupt edtech firm Byju’s. Earlier, it was revealed that the Ranjan Pai-led group had filed an expression of interest (EOI) to take over the struggling company. According to a statement from…
Manipal Group submits bid once again to acquire BYJU’S Deccan Herald Read the original article here
Listen to the article 7 min This audio is auto-generated. Please let us know if you have feedback. Sonder announced bankruptcy this week, cementing that the beleaguered apartment-style accommodations provider — which The Wall Street Journal once called “Airbnb’s billion-dollar competitor” — couldn’t hack it in hospitality. Even with the backing of industry giant Marriott…
Key home improvement products company files Chapter 11 bankruptcy TheStreet Read the original article here
New Delhi, Nov 13 (PTI) Manipal Education and Medical Group India (MEMG India), led by Ranjan Pai, has submitted an Expression of Interest (EOI) to participate in the ongoing Corporate Insolvency Resolution Process (CIRP) of Think & Learn, the parent company of embattled edtech firm Byju’s. As per the EOI, MEMG has requested access to…