An insolvency tsunami has swept through Australia, putting the country on track to record decade-high numbers of collapsed businesses by the end of the financial year. While building and food services companies are at the forefront of the surge, few sectors have been spared, representing a soft underbelly to the country’s otherwise resilient economy. Why…
Despite holding out hope it can avoid a full shutdown, Hudson’s Bay says it is planning an “immediate” liquidation that would begin next week and wrap up in June. The company said it remains optimistic it can drum up capital and find a solution with key stakeholders, particularly its landlord partners, to avoid a full…
SpiceJet is facing fresh round of troubles as three Ireland-based aircraft lessors and a former pilot have filed insolvency pleas in NCLT against the budget carrier, claiming defaults. Three lessors – NGF Alpha, NGF Genesis and NGF Charlie- have filed petitions under Section 9 of IBC, seeking initiation of insolvency proceedings against SpiceJet claiming dues…
Updated Mar 15, 2025 21:12 IST Ola Electric insovency proceedings: Rosmerta Digital Services has filed an insolvency petition against Ola Electric Technologies before the National Company Law Tribunal (NCLT). Bhavish Aggarwal-led Ola Electric Mobility Ltd, today, informed that Rosmerta Digital Services has filed an insolvency petition against its wholly owned subsidiary Ola Electric Technologies before…
Unless it finds a more viable path forward, it appears an iconic Canadian retailer will be permanently closing its doors. Hudson’s Bay announced late Friday night it will begin liquidating its entire business as soon as next week, putting more than nine-thousand jobs at risk. The department store chain, that dates back to 1670, says…
Despite holding out hope it can avoid a full shutdown, Hudson’s Bay says it is planning an “immediate” liquidation that would begin next week and wrap up in June. The company said it remains optimistic it can drum up capital and find a solution with key stakeholders, particularly its landlord partners, to avoid a full…
Despite holding out hope it can avoid a full shutdown, Hudson’s Bay says it is planning an “immediate” liquidation that would begin next week and wrap up in June. In a late Friday announcement, Canada’s oldest company said it couldn’t secure the necessary financing to keep at least some of its empire alive. A closure…
Hudson’s Bay to liquidate entire business, still seeking additional capital CTV News Read the original article here
TORONTO — The death knell is ringing for Canada’s oldest company. Hudson’s Bay announced Friday night that unless it finds a more viable path forward, it will begin liquidating its entire business as soon as next week, putting more than 9,000 jobs at risk, including 58 in Windsor. The department store chain that dates back…
TORONTO — Despite holding out hope it can avoid a full shutdown, Hudson’s Bay says it is planning an “immediate” liquidation that would begin next week and wrap up in June. TORONTO — Despite holding out hope it can avoid a full shutdown, Hudson’s Bay says it is planning an “immediate” liquidation that would begin…