Retailers can survive the retail apocalypse if they control their intellectual property, said Gerald Storch, CEO of Storch Advisors, a retail advisory firm. “If [a company] is vertical, the margin is much richer,” Storch told CNBC, referring to a company that owns its own supply chain. “You can afford to play on the internet, which…
NEW DELHI: The government will review the issue of the bar on liquidating the assets of those who have given personal guarantees against loans when it comes to companies undergoing insolvency resolution, officials said. There is already arestriction on similar seizures with regard to guarantees made by corporates. This stems from a recent ruling of…
Toys R Us devotes so much of its space to toys — rather than the few aisles at Walmart and Target Corp. — it can take chances on new items and smaller suppliers. pencer Platt/Getty Images files Share Adjust Comment Print Toys R Us Inc. doesnt sell the most toys in the U.S. that distinction…
Joan Verdon and Charisse Jones, The (Bergen County, N.J.) Record and USA TODAY Published 6:43 a.m. ET March 9, 2018 CLOSE Toys R Us plans to shutter about 20% of its U.S. store fleet, saying “tough decisions” are needed to reinvent their brands. USA TODAY Empty shopping trolleys outside a closing Toys R Us store…
IFCI, a government company, is enthused over the Insolvency and Bankruptcy Code (IBC) process, stating that its experience so far has been “encouraging”. This company is now making “judicious use” of the IBC to address corporate restructuring issues, which includes recovery, V Satya Ventakata Rao, Executive Director, IFCI told BusinessLine here. As on date, IFCI…
Joan Verdon and Charisse Jones, The (Bergen County, N.J.) Record and USA TODAY Published 6:17 p.m. ET March 8, 2018 | Updated 8:49 p.m. ET March 8, 2018 CLOSE Toys R Us has gone into administration in the UK leaving 3,000 jobs at risk. The U.S. toy chain failed to find a buyer after struggling…
Toys R Us Inc. is making preparations for a liquidation of its bankrupt U.S. operations after so far failing to find a buyer or reach a debt restructuring deal with lenders, according to people familiar with the matter. While the situation is still fluid, a shutdown of the U.S. division has become increasingly likely in…
MUMBAI The fierce competition in India’s telecommunications sector has claimed another victim: Aircel, the Indian unit of Malaysia-based Maxis Communications. Aircel said on Feb. 28 that it had filed for bankruptcy in the local courts. The move by the last surviving small telecom operator signals that the end may be near for industry consolidation. Aircel’s…
THE mining arm of entrepreneur Beny Steinmetzs business interests, BSG Resources (BSGR), has been put into voluntary administration in order to protect its assets ahead of potential legal action it faces, said Reuters citing Dag Cramer, a director of BSGR. BSGR is caught up in legal disputes in relation to the vast Simandou iron ore…
The company, known as SixCap, was placed into insolvent liquidation last month in the British Virgin Islands where it’s incorporated, according to a statement dated Feb. 26 from appointed liquidator Baker Tilly. Investors and creditors were told they’re collectively owed more than $143 million, according to a Wednesday report by Singaporean newspaper The Business Times.…