Sears Canada’s former executive chairman defended his plan to turn around the embattled retailer, and said his bid to buy the company and save it from liquidation was hampered by a creditor protection process biased towards liquidation. Brandon Stranzl, speaking publicly for the first time since the retailer began a full liquidation of its remaining…
TORONTO The former head of Sears Canada says he had a solid plan to revive the insolvent retailer but felt constrained by a court restructuring process that seemed to favour liquidating the companys assets over keeping it afloat. Speaking publicly on Monday for the first time since Sears Canada was put into liquidation two weeks…
The end of Sears Canada Inc. has put several other companies on the spot. Liquidation sales at Sears remaining Canadian stores began last week, after an Ontario Superior Court judge gave the go-ahead earlier this month. But the 65-year-old retailers passing leaves behind questions for companies it did business with and competed against. Those questions…
Yorkshire Meatball Company goes into liquidation | TheBusinessDesk.com A Yorkshire eatery and meatball production firm which last year said it had surpassed crowdfunding targets has gone into liquidation leaving crowd-funding investors out of pocket. The Yorkshire Meatball Company, based in Leeds and which had…
Varun Resources Ltd, Indias largest owner of liquefied petroleum gas (LPG) carriers, has had to halt operations of its eight Indian-flagged LPG tankers at the behest of a consortium of 12 banks led by State Bank of India after defaulting on loans of about 2,000 crore, putting its future at stake. Compounding the issue, the…
The former employees of a Manalto subsidiary say their salaries have gone unpaid since they were locked out of their office in July. Josef van Niekerk, a former developer at Soshlr a South African subsidiary of ASX-listed social media manager Manalto told Stockhead he and about 30 other staff were abruptly locked out of the…
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Thu, Oct 26, 2017 – 7:58 AM JAYA Holdings on Thursday said it is seeking voluntary liquidation, with the remaining cash to be distributed to shareholders. The company has submitted a proposal on the proposed voluntary liquidation to the Singapore Exchange (SGX). It will be convening an extraordinary general meeting to approve the proposal, and…
J.C. Penney Co. spooked investors ahead of the holiday season, after the struggling department-store chain slashed its profit goals for the year and warned of weakening sales. Penney said its decision to discount and clear out slow-moving inventory in women’s apparel and other clothing departments increased revenue in September and October but significantly hurt earnings.…
J.C. Penney Co. lost up to a quarter of its market value Friday after the struggling retailer drastically cut its outlook for the year and warned about weakening sales. Penney said its decision to discount and clear out slow-moving inventory in women’s apparel and other clothing departments increased revenue in September and October but significantly…