Ashok Hinduja, Chairman of IndusInd International Holdings Ltd (IIHL), announced on Tuesday that the acquisition of debt-ridden Reliance Capital (RCAP) has been successfully completed. The bid amount has been transferred to lenders, with the management transfer expected to occur on Wednesday. It is to be noted IIHL emerged as the successful resolution applicant in April 2023,…
Corporate insolvencies in the UK increased by 2.9% in February 2025 to a total of 2,035, up from 1,978 in January, according to the latest figures from the Insolvency Service. However, this represents a 7% decrease from February 2024, when 2,188 businesses entered insolvency. Compared to February 2023’s total of 1,964, insolvencies have risen by…
The Insolvency and Bankruptcy Code (IBC) has played a pivotal role in resolving corporate distress, with as many as 40,943 applications filed under the law since its inception in 2016. Of these, a significant 28,818 applications amounting to a total claim of Rs 10 lakh crore were resolved even before formal admission, Union Minister…
Sharvain Facades goes into voluntary administration MSN Read the original article here
Sharvain Facades goes into voluntary administration MSN Read the original article here
TORONTO: Hudson’s Bay Co (HBC) has fought to avoid a full shutdown in a Toronto courtroom, asking for permission to begin liquidating most of its stores this week. A lawyer for Canada’s oldest company, Ashley Taylor, said HBC’s efforts to solve its cash flow crisis have “failed”. Taylor also told a standing-room-only crowd at the…
Canada’s oldest company could start its liquidation sales soon and go on for up to 12 weeks—but what sorts of deals could shoppers find? Lawyers for Hudson’s Bay appeared in court on Monday and outlined their plans, proposing a way for the retailer to remove some stores from the liquidation process should it find sufficient…
Hudson’s Bay could start liquidation sales this week MSN Read the original article here
Company says attempts to secure financing to pursue a restructuring transaction have failed A prominent Canadian business with a long history tied to that of the country itself has announced it will begin a store-by-store liquidation process. Hudson’s Bay Company ULC, which comprises the retailer Hudson’s Bay and TheBay.com, recently announced it has filed documents with…
Bankrupt iconic retail chain begins liquidation, closing stores MSN Read the original article here