Court says new financing during a 14-day appeal window could revive rehabilitation talks A Homeplus store in Seoul (Im Se-jun/The Korea Herald) The Seoul Bankruptcy Court terminated Homeplus’s rehabilitation proceedings Friday, pushing the retailer closer to liquidation and leaving it a narrow 14-day window to secure fresh funding and appeal the ruling. The court found…
A new report shines a light on the sudden closure and liquidation and reveals that unsecured creditors face losing £1.7m. The liquidators’ report shows “there will be insufficient funds to enable a distribution” to a secured creditor, Close Brothers Limited, of St Giles Shopping Centre Holdings Limited. The sudden closure of the company that operated…
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Homeplus Fails to Secure 200 Billion Won, Rehabilitation Procedure Terminated…Effectively Faces Liquidation 아시아경제 Read the original article here
A tarpaulin banner outside a Homeplus store in Seoul, June 28 / Yonhap Homeplus, Korea’s second-largest hypermarket chain, is heading toward liquidation after a court terminated its rehabilitation proceedings, ruling that the cash-strapped retailer had no viable path to carrying out its turnaround plan, according to industry officials, Friday. The Seoul Bankruptcy Court dismissed Homeplus’…
Homeplus Collapses Over 200 Billion Won Shortfall… Liquidation Countdown Begins 아시아경제 Read the original article here
REVEALED: Latest business liquidations in Belmont The Daily Telegraph Read the original article here
A government minister has defended national insurance rises after an 89-year-old bakery chain co-owned by comedian Romesh Ranganathan ceased trading. Coughlans Bakery, which had branches in Kent, Surrey, West Sussex and south London, announced it had closed on Tuesday, blaming the government’s decision to hike business rates and national insurance contributions for employers. The bakery’s…
SINGAPORE – Australian fashion and lifestyle retailer Cotton On has closed its store at Velocity @ Novena Square, and is shutting its outlet at Nex in Serangoon Central. A Cotton On spokesperson told The Straits Times on July 2 that the leases for both locations had expired, and the company is “exploring new opportunities to…
Homeplus risks liquidation as funding dispute stalls South Korea rescue – CHOSUNBIZ Chosunbiz Read the original article here