A GERMAN club has been declared bankrupt, with all players released immediately. Fourth-tier side KFC Uerdingen will no longer be able to finish the 2024/25 season. 1 KFC Uerdingen will no longer be able to complete the remainder of the season after being declared bankrupcyCredit: Getty On Tuesday, an insolvency administrator ordered the immediate suspension…
James Hickmann, founder of South Australian-based LED lighting and technology company Vailo, has been declared bankrupt by the Federal Circuit Court in Adelaide after failing to repay a $600,000 loan. The decision automatically disqualifies Hickmann from managing corporations or holding positions such as director of more than 50 of his companies, including Vailo. As reported…
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Embattled retailer with ties to Montréal tech set to shutter stores on May 18. UCG Canada Holdings (UCG)—which does business under the name of clothing seller Frank And Oak—is set to close all of its stores and sell its brand, marking the end of an era for a former heavy-hitter in Montréal’s retail tech…
“We’re talking about workers who’ve spent years working for this company, and now they’re being denied income they’ve rightfully earned and are entitled to,” said Lana Payne, Unifor national president. HBC started its full liquidation in March. That came after the company went through Companies’ Creditors Arrangement Act (CCAA) proceedings following an initial order for…
A payroll director who was the boss of an umbrella company which failed to pay more than £2.5m in VAT has been banned as a director. Hubert Omukhulu failed to accurately declare the amount of VAT that Remedy Payroll Solutions Ltd had to pay in 2020 and 2021, leading to his disqualification as a company…
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It seems that the well-known computer cooling systems manufacturer Scythe is in a difficult situation. Its European division is potentially on the verge of closure, and there is a shortage of CPU coolers on the market. The main reason for this situation is that Scythe’s European division has exhausted its working capital and filed for…
Canadian private sector union Unifor has levelled accusations against Hudson’s Bay Company (HBC) for cutting commission-based pay for its workers without prior agreement during the company’s liquidation period. The union asserts this action breaches existing collective agreements and results in a drop in income for employees facing imminent layoffs. As per notification received by the…