ORLAND PARK, IL — A liquidation sale has started at the Orland Park location of Joann Fabric and Craft, as the company prepares to shutter it and hundreds more across the country. The Orland Park Joann Fabric and Craft store, 15752 S. La Grange Rd., is one of 500 slated to soon close permanently. “Your…
A business owner has blamed her company’s inability to pay back refunds on her messy divorce and legal troubles — leaving customers owed thousands of dollars. Western Australia-based Interplay Family Therapy Pty Ltd provides play therapy training courses to customers, a creative counselling method to help children with psychological issues, especially those with trauma. But…
“Your overwhelming demonstration of how much everybody loves JOANN has meant more to us than you know. Although we regrettably will be closing some stores, we are grateful to continue our mission of inspiring creativity in our customers online and in stores across the country,” the company said on its website. The Cleveland, Ohio-based company…
The level of corporate distress is rising as businesses face “persistent economic challenges” before a sharp increase in labour costs. The number of company insolvencies rose 11 per cent year-on-year to 1,971 across England and Wales last month, according to data from the Insolvency Service. It was the highest level registered in January for more…
With the Supreme Court setting aside AGI Greenpac’s resolution plan for Hindustan National Glass (HNG) last month, the other bidder, INSCO (Independent Sugar Corporation), a Madhvani Group company based in Africa has written to the Committee of Creditors of the bankrupt firm to fast track their bid in the Insolvency Resolution Process. In it’s letter…
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The matter of Salesio Kinyua Njagi and Nine Others v Invesco Assurance Company Limited [2021] (eKLR) dealt with the application of the law around the insolvency of insurance companies. Public interest is of great concern to the insurance industry, necessitating its consideration when filing liquidation proceedings against such companies. It is imperative to have clarity on…
The start-up suffered from a fire at its manufacturing site a few weeks ago. Liquidators have been appointed to the Galway-based battery systems manufacturing start-up Xerotech. The company, founded in 2015, employs 100 people. Luke Charleton and Alan Large of EY-Parthenon’s Turnaround and Restructuring Strategy team have been appointed as joint liquidators to preside over…
Haydale places “loss-making” US arm into corporate insolvency process Insider Media Read the original article here
Stats released today by The Insolvency Service unveiled a 6% increase in company insolvencies in the year ending January 2025 compared to the month before, and 11% more than in January 2024, as the dust beings to settle following a disruptive Autumn Budget for British business. According to Giuseppe Parla, Business Recovery Director at Menzies, December stats bucked…