[WASHINGTON] Struggling chipmaker Wolfspeed will be taken over by creditors including Apollo Global Management under a proposal that would put it into bankruptcy just long enough to slash billions of US dollars in debt, according to sources familiar with the plan. The company will soon announce a deal with lenders for a so-called prepackaged bankruptcy,…
An EY-backed resolution professional (RP) has filed lawsuits at the National Company Law Tribunal (NCLT) claiming former Byju’s directors owe compensation to the company for fraudulent transfers of the company’s assets, according to people familiar with the matter. The lawsuits invoke a provision under the Insolvency and Bankruptcy Code which provides legal recourse to reverse…
Due to health safety measures designed to stop the spread of the potentially fatal disease, the Covid pandemic forced many eateries to adapt to a new normal 16:48 ET, 18 Jun 2025Updated 16:49 ET, 18 Jun 2025 The business did not specify in its bankruptcy petition why it had filed(Image: LightRocket via Getty Images) In…
FirstCry subsidiary GlobalBees faces Rs 64.9 crore insolvency plea The Morning Context Read the original article here
IPO-bound at-home services company Urban Company turned profitable in FY25. This and more in today’s ETtech Top 5. Also in the letter:■ Startups strengthen domestic control■ Ola goes commission-free ■ Meta eyeing OpenAI talent Urban Company posts Rs 240 crore profit in FY25, revenue rises 38% (L-R) Varun Khaitan, Raghav Chandra, Abhiraj Singh Bhal, cofounders,…
Here are 9 key takeaways from our reporting: 1. Gillispie: There is no question Gillispie suffered harm, spending more than 20 years in prison for sexual assaults he didn’t commit. This story from Tom Archdeacon tells of Gillispie’s time in prison and how he channeled his energy into a unique art form that has since…
Blokker will open 40 stores in the Netherlands to rebuild the retail store chain that was declared bankrupt last year. The first 12 new stores were opened on Wednesday. The rest will open in the coming weeks, the store chain reported. Blokker was declared bankrupt in November of last year. The chain, which was founded…
Lacking solutions, LeddarTech announces it will file for bankruptcy Montreal Gazette Read the original article here
The fall of Hudson’s Bay and Saks Fifth Avenue Canada may give the impression that one of the hottest trends this year is the distressed look, but retail and insolvency experts say the company’s demise is part of a now-annual pitter-patter they expec The fall of Hudson’s Bay and Saks Fifth Avenue Canada may give…
Retailers are in trouble and there’s more to come: insolvency, restructuring experts MSN Read the original article here