A U.S. Bankruptcy Court judge has approved a liquidation plan for Thinkstream, under which a limited amount of money will be doled out to creditorsbut not to more than 500 shareholders of the company due to the extensive about of debt owedsays court appointed trustee David Rubin. This substantially concludes the Thinkstream case, Rubin says…
Hundreds of BHS staff are facing uncertainty after the companys administrator failed to find a buyer for the high street giant. Administrators called in earlier this year yesterday announced that they had not been able to find a buyer for the chain that had the working capital required to keep the company going. The company…
It’s the end of an era: after weeks of uncertainty, today BHS’ administrators finally announced they were calling time on the sale of BHS – without a buyer. That could mean the disappearance of one of the high street’s biggest names, with all 163 stores closing. Not surprisingly, given the size of the collapse – some…
June 2nd, 2016 Holly Birkett Dry Cargo, Europe, Finance and Insurance 0 comments Klaipeda County Court decided to declare the company declared Lithuanian Shipping Company bankrupt on May 30 and the company has gone into liquidation. The companys creditors will meet with its bankruptcy administrator in Vilnius on June 10 to discuss the liquidation process, claims and…
Salisbury BHS to close as company goes into liquidation SALISBURY will lose one of its largest retailers as BHS goes into liquidation. The department store chain will close, resulting in the loss of up to 11,000 jobs nationwide, after administrators failed to find a buyer for the company. The announcement came at just after 2pm…
BHS, the 88-year-old department store chain which collapsed into administration in April, is now facing liquidatation at the potential cost of 11,000 jobs after the administrators said they were unable to locate a buyer. The administrators, Duff & Phelps, had been widely expected to name a new BHS owner today, with a consortium fronted by the UK retail…
BHS to be wound down as rescue attempt fails 2 June 2016 From the section Business Image copyright Getty Images Department store BHS is to go into liquidation with the loss of up to 11,000 jobs after efforts to find a buyer failed. The decision followed a lengthy bidding process aimed at saving BHS, which…
Gourmet food retailer Jones the Grocer has collapsed into voluntary administration for the second time. PPB Advisory were there afternoon appointed as administrators to JTGS, which is the Australian operator of the four remaining Jones the Grocer and Becasse stores in Australia. The sole shareholder of JTGS is L Capital Asia, the private equity arm…
By Malcom Nyathi VICTORIA FALLS The United Touring Company (UTC) a business in which Local Government Minister Saviour Kasukuwere and former labour minister Nicholas Goche are shareholders has been liquidated. Saviour Kasukuwere A leading tour operator and travel agent during its heydays, UTC went belly-up a few months ago after failing to navigate the countrys…
Once the Insolvency and Bankruptcy Code, 2015, comes into effect, a company that has more than 100 workers can initiate voluntary liquidation proceedings, TK Viswanathan, the chairman of the committee that drafted the legislation and former law secretary, said on Monday. Viswanathan added that as long as the company repaid its dues to lenders and…