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Mike Pavitt Businesses in the South East of England are now at greater risk of insolvency than at the start of 2017, new research has claimed. Figures for July 2017, published by the Southern branch of restructuring and insolvency trade body R3, show that almost one in three businesses in the region are now at…
By Julie Verhage August 2, 2017, 7:00 AM EDT August 3, 2017, 9:04 PM EDT Unicorns arent real, and neither are the valuations ascribed to many of the startups that say theyre worth $1 billion or more. About half of private companies with valuations exceeding $1 billion, known as unicorns, wouldnt have earned the mythical…
The US clothing brand Gap is closing in Australia. The luxury brand retailer OrotonGroup, which has the Gap franchise in Australia, says it will discontinue the business locally, with the six stores closing by the end of January 2018. A short time go, its shares fell 4.7% to $1.00. OrotonGroup, hit by weak retail demand,…
Canadians are justifiably appalled by the plight of thousands of employees and pensioners who are being victimized by the bankruptcy protection manoeuvring of Sears Canada. Thousands have been laid off and even more stand to lose the severance, benefits and pensions that they earned, while Sears pays millions in bonuses to executives and managers. Sadly,…
More than half Australia’s Topshop and Topman stores have closed and 370 jobs have been axed as administrators continue to restructure the struggling fashiopn retailer. Administrator Ferrier Hodgson on Friday confirmed five of the UK-based brand’s nine Australian stores have shut, including the flagship unit on Melbourne’s Chapel Street. The closures resulted in 335 staff,…
The 94-year-old UK-based lighting brand Bowens surprised the photo world last month when it abruptly closed shop and went into liquidation, citing the rise of cheap Chinese brands and fierce competition. The death of a beloved photo brand is (sadly) not too unusual, but former Bowens employees in both the UK and in China say…