The National Company Law Appellate Tribunal (NCLAT) has recently upheld the initiation of corporate insolvency proceedings against butter and ghee manufacturer and trader Jhandewalas Foods Limited. It held that the company’s defence of a pre-existing dispute over unpaid dues was not supported by credible evidence and could not prevent the insolvency process. A bench of…
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Stratus Properties (NASDAQ:STRS) Gains After Liquidation Update Kalkine Media Read the original article here
Australian shoe retailer Betts has announced it will close 20 of its 35 retail stores as part of a massive restructure, after the business entered voluntary administration last week. The company behind the Australian school shoe has made the decision to run as an online store, transitioning away from physical retail. The fifth generation family-owned…
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REVEALED: Latest business liquidations in Leeton The Daily Telegraph Read the original article here
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Betts, one of Australia’s longest-running shoe chains, has called in voluntary administrators and will close more than half of its brick-and-mortar stores. Some 15 stores are expected to keep operating, as the iconic shoe company pivots its operations online. The shoe store has been slowly closing outlets in recent years following the shift to online…
In a dramatic, eleventh-hour turnaround, the insolvent ski resort on the Karkogel mountain in Abtenau (Tennengau) has been saved. Following intense, down-to-the-wire negotiations, the Salzburg Raiffeisen Association and the local landowners—who had previously refused to sign a critical lease extension—reached an agreement on Tuesday afternoon. The breakthrough comes just in time. Had the lease agreement…