Canadian department store chain Hudson’s Bay Company has revealed plans to initiate a full liquidation of its business as it failed to obtain the necessary funding to proceed with a restructuring plan. The company, with a workforce of 9,364, has stated in the filings submitted to the Ontario Superior Court of Justice that it has…
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The struggling fashion chain has drafted in advisers to oversee a process of liquidation, according to documents seen by The Sun. It is understood the chain will have shut 35 shops by 14 March after trimming down its store estate since the start of the year. The retailer entered into a company voluntary arrangement (CVA)…
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Carlow firm Swan Fruit Limited once had a turnover of €40m but was placed into voluntary liquidation in 2014, owing more than €2m to creditors Carlow firm Swan Fruit Limited once had a turnover of €40m but was placed into voluntary liquidation in 2014, owing more than €2m to creditors. The firm’s liquidator, insolvency expert…
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Hudson’s Bay Company operates 80 stores and TheBay.com. Credit: JHVEPhoto/Shutterstock. Canadian department store chain Hudson’s Bay Company has revealed plans to initiate a full liquidation of its business as it failed to obtain the necessary… Read the original article here
Sections 8 and 9 of the IBC stated that an operational creditor can only initiate the CIRP process in the event of an uncontested debt and a payment default The Appeal filed by the operational creditors was dismissed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi (NCLAT), which is composed of Justice…
The struggling fashion chain has drafted in advisers to oversee a process of liquidation, according to documents seen by The Sun. It is understood the chain will have shut 35 shops by 14 March after trimming down its store estate since the start of the year. The retailer entered into a company voluntary arrangement (CVA)…