Dozens of Priceline-branded pharmacies have been placed into administration by retail giant Wesfarmers after years of financial difficulties. Receivers KPMG said the 54 affected stores would continue to trade while receivers assessed the business. More than 400 other Priceline stores around Australia are not affected by the change. File photo: Dozens of Priceline-branded pharmacies have…
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Christmas cheer was in short supply for Wesfarmers’ top brass. Wesfarmers and the conglomerate’s receivers spent the holidays fielding calls from creditors and suppliers amid the deepening crisis at Priceline’s largest franchisee. It spent $774 million acquiring the retailer’s parent, stumped up more than $100 million via goods on credit to keep Infinity Pharmacy Group’s…
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CITR, the judicial administrator of the Mangalia Shipyard and a leader in Romania’s restructuring and insolvency market, announces that the creditors’ meeting has rejected the proposed reorganization plan for the company. The decision marks the shipyard’s transition into bankruptcy proceedings, a phase in which current operations will be gradually halted and liquidation procedures will be…
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