TWO DROITWICH companies have gone into liquidation leaving 34 staff members redundant, writes Anu Shukla. Flood Angel and UK Flood Barriers operated together as a company under the umbrella business Global Flood Defence Holdings. Many of the employees, some who had worked for the company over the last seven years, said they expected their wages…
The report presented by the Insolvency Law Committee has brought some hope to the homebuyers. Under the Insolvency and Bankruptcy (I&B) Code, the one affected the most are the genuine homebuyers of those real estate companies against whom Corporate Insolvency Resolution Process (CIRP) has been initiated. These homebuyers have given their earnings, taken the loan…
MUMBAI: With Alok Industries heading into likely liquidation, about 12,000 permanent employees of the company are set to lose jobs in what could be the biggest labour casualty since the implementation of the bankruptcy code. These employees earned an average salary of Rs 1.45 lakh a year, show data compiled by Corporate Professionals that used…
MUMBAI: With Alok Industries heading into likely liquidation, about 12,000 permanent employees of the company are set to lose jobs in what could be the biggest labour casualty since the implementation of the bankruptcy code. These employees earned an average salary of Rs 1.45 lakh a year, show data compiled by Corporate Professionals that used…
Carson’s Fort Wayne location is shown. Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Carson’s Fort Wayne location is shown. MILWAUKEE (AP) – The Bon-Ton Stores, which operates 260 department stores in the U.S. including Carson’s, is expected to go out of business after two…
MUMBAI : Liberty House and Deccan Value have bid for bankrupt Castex Technologies, a subsidiary of Amtek Auto, with both offering about 20 per cent of overdues, said two senior bank officials who did not want to be identified. We have received two binding bids and both the offers are in the range of Rs…
NEW YORK (AP) The end is near for department store operator The Bon-Ton Stores. Two liquidation firms are the victors of an auction for the bankrupt company’s assets, after the retailer failed to find a bidder willing to continue operating the business. A bankruptcy court hearing is scheduled for Wednesday to approve the sale and…
MIAMI TOWNSHIP, Ohio (WDTN) – More than 100 people at the Dayton Mall’s Elder-Beerman Department store could be out of a job in a matter of months. Elder-Beerman’s parent company, Bon Ton, announced today: the company is going into liquidation. Loyal customers of the department store say the news comes as a shock. “I didn’t…
The future looks bleak for Bon-Ton Inc., the parent company of Herbergers department stores. A court-supervised auction of the bankrupt business started Monday. According to the Reuters news agency, sources familiar with the matter said that liquidation firms Great American Group and Tiger Capital Group won the auction with a $775.5 million bid. If the…
Telecom service provider Aircel’s committee of creditors (CoC) is reportedly considering an option to restart the firm’s mobile phone operations, in some circles, and the CoC is scouting for investors. According to The Economic Times, Aircel’s lenders, led by the State Bank of India (SBI), representatives from the firm’s management and an insolvency professional from Deloitte…