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…
Company adjusts full-year guidance PLANO, Texas – (Oct. 27, 2017) – J. C. Penney Company, Inc. (NYSE:JCP) today provided a preliminary update on its expected third quarter performance, following actions taken during the quarter to accelerate the liquidation of inventory. The Company’s fiscal third quarter ends Oct. 28. “Based on the encouraging results…
THE winding down of the defunct Interfin Bank (pictured) is facing new hurdles amid revelations a local property firm is suing the banks liquidator and prominent lender Jayesh Shah who is holding onto title deeds of the plush Golden CT housing project, it has been established. By Bernard Mpofu Equity Properties has slapped Shah with…
OTTAWA Innovation Minister Navdeep Bains says the federal government will consider legislation to protect employees pensions when a company goes bankrupt. While theres no plan for the government to introduce legislation at the moment, he says it will carefully examine two different private members bills on the subject, put forward by a New Democrat MP…
OTTAWA Innovation Minister Navdeep Bains says the federal government will consider legislation to protect employees’ pensions when a company goes bankrupt. While there’s no plan for the government to introduce legislation at the moment, he says it will carefully examine two different private member’s bills on the subject, put forward by a New Democrat MP and a Bloc Quebecois…
Approximately $995,000 worth of debts was uncovered after the first creditors meeting of Adelaide-based distributor, BMS Technology. BMS Technology entered into voluntary administration on 10 October, with Peter Ivan Macks and Ian Wayne Burford from Macks Advisory being appointed administrators. The first meeting of creditors, which was held on 19 October, revealed that BMS entered…
1. Increase of the share capital. 1) To increase the share capital of joint stock company LATVIJAS KUNIECBA (Company) by EUR 120000000 (one hundred twenty million euro), by issuing 400 000 000 (four hundred million) new B category registered shares in paper form with nominal value of each share EUR 0.30 (thirty cents). After the…
OTTAWA Innovation Minister Navdeep Bains says the federal government will consider legislation to protect employees pensions when a company goes bankrupt. While theres no plan for the government to introduce legislation at the moment, he says it will carefully examine two different private members bills on the subject, put forward by a New Democrat MP…
This article is a crosspost from SME Law. The Liquidation Preference term is frequently used in fundraising rounds. It is a major economic term to be negotiated in the term sheet between the founders and the investors, and is arguably the preference of the preferred shares. Definition of liquidation A liquidation is the procedure according…